Alum's new venture capital fund targets Tulane alumni network to bring activity to Louisiana

AUGUSt 25, 2025

BY Shyla Krishnappa

Alumnus Evan Nicoll (MSRED '21) has established a new venture capital fund that hopes to tap into Tulane University's nationwide brand and active alumni network to find not only investors but also startup companies worthy of a cash infusion.

Below is an excerpt from the Times-Picayune/New Orleans Advocate story about the new venture:

New Orleans-based 1834 Ventures announced the launch of its inaugural $20 million startup fund and its first two investments. Nicoll and his co-managing partner Patrick Hernandez said they plan to leverage the alumni network of Nicoll's alma mater, Tulane, to invest in and grow scalable ventures while encouraging them to bring their business to Louisiana.

“Tulane graduates and entrepreneurs who have participated in Tulane programming have received a top-tier education," said Hernandez. "We consider that a competitive advantage. Plus, we know that Tulane grads around the country have an affinity for New Orleans and Louisiana."

"We are hoping to capitalize on that to bring more business to the state,” he added.

Hernandez said the fund has raised $4.4 million in commitments from 30 investors nationwide. One of those investors is the Louisiana Economic Development Corporation, which spends federal dollars dedicated to economic development by the Biden Administration. The State Small Business Credit Initiative will match private dollars raised for investment.

The fund's first two investments are in Cabana Mental Health Solutions, a health care platform; and Orion Longevity, maker of a smart mattress cover designed to improve sleep.

For more of the story, visit Nola.com.