Boot64 Ventures

At Boot64 we are in search of Louisiana's most #innovative new companies and inventors. Are you a founder of a scalable new #startup or do you know somebody who is? We're accepting applications for early stage equity investments on our website, boot64.com. We hope to hear from you soon! #venturecapital #investing #Louisiana #disruptive #economicdevelopment #seedfunding #incubator #mentoring

The Latest New Orleans' tourism data is out!... There are a few highlights for founders building in smaller cities… 88% of America's top 250 conventions only meet in 20 cities. New Orleans ranks #3 - beating Chicago, Las Vegas, and Denver. What differentiates New Orleans: • 53% convention center bookings / 47% hotel-based meetings • Walkability ranked #1 in the US by AllClear • No need for expensive shuttling between venues • Cultural experiences that can't be replicated elsewhere This creates a hidden advantage for startups in these hub cities - a steady stream of decision-makers flowing through your backyard. Opportunity for startups looks like - 1) Identifying conventions attracting their target customers 2) Scheduling demos during these periods 3) Saving 60% on travel costs while doubling sales meetings Don't just think about the customers in your home market --> Consider who visits regularly and how to capture them while they're in town.

Mark Zuckerberg only made one mistake in the early years of Facebook Did you know he set up the company as a Florida LLC in 2004? Far too many founders are ignorant about the US legal and tax system Sure, they’re focusing on their business, leaving the back office to accountants and lawyers. But in the early stages of seeking out investors, corporate structure matters just as much as product • LLCs are a relatively simple structure that ‘passes through’ taxes to its members. That means all members or unit holders pay proportional tax on profits whether they’ve received any distributions or not.. • For investors that means if the LLC shows losses they can use the K-1 to offset losses against other income • It also means if you show a profit on paper you’re investors will be getting a K-1 that will add to their taxable income without actual dollars to pay the taxes On the other side of the coin… • C Corps shield individual stockholders from liability, letting you have a diverse investor base. • There is potential for double taxation, so revenues are taxed first at the corporate level and then when distributions are made to shareholders, but with early stage startups there isn’t much chance of dividends being paid to investors! • They can be more complex to maintain and some filing costs are higher, but the setup is more favorable for an acquisition or IPO. • They can be set up in any state, Delaware is most popular due to its lower taxation, Wyoming, Texas and Nevada are making pushes to replace Delaware as go to states for incorporation, talk to your attorney for advice. As an investor, the worst thing I can possibly imagine is seeing my portfolio company growing and sending out a K1 tax bill from the LLC with “paper profits”. That's “pay with no play”. One of the only reasons I can think of to use an LLC to start is if you have some IP to protect or other legal requirement whereby you’ll protect your idea for a short timeframe. Many first time founders use the LLC setup to get started, it’s not a deal killer if you put a plan in place to convert to a C-corp early on (again speak to your attorney). There’s a reason that foreign companies with US investors do a ‘Delaware flip’ It’s because, despite the stringent governance requirements, no VC wants to get penalised for their portco taking off. Founders, get clued up on this stuff. Leaning on your business associate or accountant for legal advice could leave you uninvestable....

We are continuing our focus on highlighting how important industrial experience will be to the next generation of billion dollar companies. With the new administration leading with tariffs to reduce the US trade deficit, we think that the unsexy industries are about to see a renaissance... Read more to learn why 'The South Got Something to Say'

I don’t care what you’re building… I care that you understand it better than anyone else in the world. At Boot64, yes, we're a generalist fund. But we still have a focus. Our thesis stands on three core beliefs: 𝟭. 𝗚𝗿𝗲𝗮𝘁 𝗳𝗼𝘂𝗻𝗱𝗲𝗿𝘀 > 𝗚𝗿𝗲𝗮𝘁 𝘀𝗲𝗰𝘁𝗼𝗿𝘀... Domain expertise beats pedigree every time. A logistics veteran who understands trucking challenges intimately has an edge over a Stanford MBA entering the space with theories but no battle scars. 𝟮. 𝗟𝗼𝘂𝗶𝘀𝗶𝗮𝗻𝗮'𝘀 𝗮𝗱𝘃𝗮𝗻𝘁𝗮𝗴𝗲𝘀 𝗮𝗿𝗲 𝗱𝗶𝘃𝗲𝗿𝘀𝗲... The next unicorns will be built right here in Louisiana. Limiting ourselves to a single sector would mean missing our state's most promising opportunities across industries. 𝟯. 𝗧𝗵𝗼𝘂𝗴𝗵𝘁𝗳𝘂𝗹 𝗽𝗼𝗿𝘁𝗳𝗼𝗹𝗶𝗼 𝗰𝗼𝗻𝘀𝘁𝗿𝘂𝗰𝘁𝗶𝗼𝗻 𝗶𝘀 𝗰𝗿𝗶𝘁𝗶𝗰𝗮𝗹... We balance across hardware, software, B2B, and B2C. If the 2010s belonged to platforms, the 2020s may belong to science-driven hardtech and AI agents. Building a generalist fund requires blending broad market awareness with sharp focus on portfolio construction. We invest across sectors as long as we see venture-scale potential, but we're mindful of concentration risks and secular trends. The art is balancing diversification with conviction - being adaptable without chasing every shiny object. Being a generalist fund doesn't mean being a fund without a philosophy.

Sometimes we spend hours helping startups we don’t invest in… When Lucid exited I celebrated even though I wasn’t an investor… The saying is true, a rising tide lifts all boats. VC isn’t just about picking winners, but helping everybody win, at least for Boot64! In a small State like Louisiana, any good outcome makes it easier for someone else to succeed. — The Lucid exit was a watershed moment to show LPs, founders and other VCs that the Gulf South can compete — Fund returners like Levelset show that Louisiana VCs can generate returns — If a founder you passed on generates a great exit, it will mean that more money flows into the State VCs may be competing with each other for dealflow and funding and founders may be competing with each other for those VCs. But at Boot64 we are working hard to make sure we are not in a zero-sum game…. A win for anyone in Louisiana is a win for the ecosystem! That’s why we’ll often give advice to non-portfolio founders who are local, or even founders we say no to. If we’re going to turn Louisiana into a hotbed of innovation, We have to cultivate it together.

The difference between a distraction and a strategic pivot = whether it leverages your core strengths. Recently, we met with an experienced founder. Their initial plan surprised us: "We'll start with conventional products to generate immediate revenue, then develop our IP-driven solution later." While this approach promised faster cash flow, it would have: • Created a completely separate business unrelated to their vision • Diverted resources away from their actual innovation • Delayed the development of their proprietary technology In contrast to a platform business doing manual operations (which builds necessary relationships and knowledge), this approach wasn't building toward their actual goal. We advised them to raise more capital, actually 3X more, and focus directly on their prototype. The round was oversubscribed, and they're now developing what actually matters - their innovative technology. This illustrates an important distinction: Smart founders validate demand before building expensive technology. But validation should always connect to your end vision. Does your approach generate valuable knowledge for your actual product? Are you building relationships with your target customers? Will this path eventually lead to your core innovation? If the answer is no, it's not validation - it's a distraction.

Ever seen a startup win 5 pitch competitions and still fail to raise a single dollar from investors? Building startups has been distorted by popular culture. Startup events are all geared toward ‘pitch days’ and now… We’re producing hordes of pitching specialists! But while they're polishing slides, they're not focused on product development or customer acquisition. There’s nothing wrong with networking or being able to sell a vision or present a narrative. In fact, it’s integral for founders to be able to convey what they’re doing through a well-oiled presentation. But you’re supposed to do that after making something useful for someone. That’s what startups are about at their core → the fundraising and vision comes once there is some evidence of that. The role of investors is to fund commercially viable products that solve a problem, hopefully a really big one. Somewhere over time, that essence has been lost in the appeal of stages, shiny decks and charismatic pitches. . Time for founders to get back to first principles. My advice? Use pitch competitions strategically. They're excellent for visibility and small capital injections. But if you've pitched the same idea at 10+ competitions without investor traction, that's not a signal to enter an 11th competition - it's time to reassess your business model.

Had a few founders ask me about convertible notes. Think of convertible notes as a hybrid - starts as debt, potentially converts to equity when you do well. Sounds perfect, right? But these seemingly simple instruments can create surprising outcomes years later. Convertible notes are a great tool… but often misunderstood by first-time founders. The appeal is obvious - simpler than priced rounds, faster to close, and you can delay valuation discussions. But too many founders sign notes without understanding the long-term implications. 𝟭. 𝗨𝗻𝗱𝗲𝗿𝘀𝘁𝗮𝗻𝗱 𝗰𝗼𝗻𝘃𝗲𝗿𝘀𝗶𝗼𝗻 𝗺𝗲𝗰𝗵𝗮𝗻𝗶𝗰𝘀 - That valuation cap might seem high today, but if you succeed, you'll hit it. Know exactly what percentage of your company you're potentially giving up. 𝟮. 𝗪𝗮𝘁𝗰𝗵 𝘁𝗵𝗲 𝗱𝗶𝗹𝘂𝘁𝗶𝗼𝗻 𝘁𝗶𝗺𝗲𝗹𝗶𝗻𝗲 - Multiple notes with different terms can create a dilution waterfall during your Series A that shocks even experienced founders. 𝟯. 𝗖𝗼𝗻𝘀𝗶𝗱𝗲𝗿 𝗮𝗹𝘁𝗲𝗿𝗻𝗮𝘁𝗶𝘃𝗲𝘀 - SAFEs offer similar benefits with cleaner terms. Priced rounds create clarity from day one. 𝟰. 𝗦𝘁𝗿𝘂𝗰𝘁𝘂𝗿𝗲 𝗳𝗼𝗿 𝗮𝗹𝗶𝗴𝗻𝗺𝗲𝗻𝘁 - The best notes align founder and investor incentives across various success scenarios. So they can be the best choice in some cases. Convertible notes are neither good nor bad - again… they’re a tool Like any tool, proper use requires understanding both the immediate benefits and long-term consequences. If you're raising on a note, make sure you can explain your cap table post-conversion. If you can't, that's probably a red flag. If you’re building in Louisiana let's talk about structuring your round in a way that sets you up for success beyond the initial cash infusion.

You can't go to any city on the planet without finding elements of New Orleans culture that we've exported - especially in food and beverage. Think about it - every city has Chinese food, and every city has Cajun food. That's not an accident. Louisiana has turned culture into billion-dollar businesses: • Popeyes: 4,000+ locations worldwide, $1.5B in annual revenue • Raising Cane's: From a single Baton Rouge location to 700+ restaurants globally • Tabasco: 700,000 bottles produced DAILY and sold in 195 countries • Ruth’s Chris Steakhouse: 154 locations globally with half a billion in annual revenue Coming off the throes of Mardi Gras season. There's a sweet treat called King Cake that we eat from January 6th (All Kings Day) until Mardi Gras day. The community exports HUNDREDS OF THOUSANDS of king cakes in those 60-90 days. Some local bakeries ship 50,000+ cakes per season to destinations worldwide. It's insane. But it shows you the power of what we've built here. And this isn't just about food... Louisiana is where massive companies emerge from unexpected places. We're seeing this same pattern repeat in our startup ecosystem. For example, Kern Studios builds nearly 1,000 Mardi Gras floats each year. Now they need more room! At Boot64, we're betting on founders who understand how to harness Louisiana's creative energy and export it to the world - just like these CPG giants did. And when you put capital behind that, magic happens.