Valmiki Capital announces partnership with New Orleans-based Landing Zone
Caitlin Berni | firstname.lastname@example.org | Published on April 1, 2016
NEW ORLEANS & NEW YORK CITY – Valmiki Capital Management LP, a New York-based asset management company, announced that it is forming a partnership with Landing Zone through Valmiki’s New Orleans venture capital subsidiary, Valmiki 504 LLC. Landing Zone is a pioneering entrepreneurial workspace founded by Robert Armbruster, a US Naval Academy graduate and Iraq War veteran. Together with its affiliated veterans’ business accelerator Vetlaunch, Landing Zone helps launch and scale fundable businesses.
“This announcement marks the start of a promising partnership between two new leaders in our local entrepreneurship space,” said Michael Hecht, President and CEO of Greater New Orleans, Inc. “Investments from Valmiki will help bring new companies to life, while the close relationship with Landing Zone will engage the talents of, and provide opportunities for, our regional military veterans. We congratulate and thank both Valmiki and Landing Zone.”
Peggy Babin, CEO of Valmiki 504 said, “We are thrilled to bring to New Orleans Valmiki’s well-established investment process of partnering with business accelerators on the ground to source and nurture emerging companies. It is a model that has proved successful in de-risking early stage private investment and will be tremendously helpful to the NOLA startup ecosystem”.
Valmiki’s New Orleans offices will be located in Landing Zone’s co-working space and will be immersed Landing Zone’s startup community. Bob Armbruster said, “The physical presence of the Valmiki team and the capital from its funds will be integral to helping startups in the accelerator program become truly fundable and scalable. In addition, Valmiki brings an even more valuable resource- their network of affiliated startup incubators across a number of industries”.
The partners also announced that Valmiki has invested in a new Landing Zone incubated startup which is currently in stealth mode and will launch operations in 2017. The new company is expected to employ over 150 veterans in high-paying full-time jobs within three years of launch. This startup will benefit from the expertise of two of Valmiki’s New York-based industry incubators and exemplifies the Valmiki model of sourcing industry expertise from across its network of incubators to help its portfolio companies. Valmiki expects this venture to be the first of a number of companies funded from the Landing Zone partnership.