New Orleans Startup Fund Announces Roussel As New CEO
NEW ORLEANS – The New Orleans Startup Fund (NOSF) announced it has appointed Jimmy Roussel as CEO. NOSF is a non-profit venture fund that provides seed capital and technical assistance to early-stage firms that demonstrate significant growth potential. Since its inception in 2010, the fund has invested $1.75 million in 25 local companies that in turn have raised over $24 million – for a multiple of over 13 times the original NOSF investment. Roussel has been serving in the role since the spring, and this announcement follows his success setting up two programs, a new class of PowerMoves.NOLA fellows and a program for small businesses. The NOSF’s success is made possible with the generous support of Chevron, Entergy, and the W.K. Kellogg Foundation, NOSF reps said.
“We are thrilled to welcome Jimmy on board as CEO of the New Orleans Startup Fund,” Leslie Jacobs, a veteran business executive and entrepreneur who, as a board member, had been volunteering as president of the NOSF, said. “His experience founding and advising startups will be instrumental in building upon the Fund’s success.”
A New Orleans native, Roussel has worked for the past 25 years in a variety of startup environments, taking many companies from idea to revenue. He is an authority on how to start and scale companies, and his expertise includes raising capital, building teams, creating sales and marketing plans, and developing strategies for getting products to market, NOSF Reps said. Roussel’s past professional experience includes positions as entrepreneur in residence for PowerMoves.NOLA, marketing manager for Intralox, CEO of ProTier, entrepreneur in residence for The Idea Village, managing member of Global Medium/Clearwater Partners/Mehl Research Labs, and business consultant for Makebuzz.
“As CEO, I am eager to continue developing a portfolio of companies that will create jobs and community wealth in this region,” said Roussel. “One of the Startup Fund’s greatest achievements has been its catalytic impact, with early stage companies going on to raise ten times the fund’s initial investment. My work will focus on creating a strong portfolio of companies able to attract follow-on financing.”
In recent years, the Greater New Orleans region has become a hotbed of entrepreneurial activity. NOSF was created in part to build and strengthen the local angel investment network and attract external capital to support this activity. The intended result will be a stronger, more diverse economy, NOSF reps said.
As a nonprofit evergreen fund, all profits are re-invested into NOSF.