David Mussafer invests in 1834 Ventures as Tulane alumni-backed fund closes in on $20 million target
1834 Ventures, a New Orleans-based early-stage venture capital firm investing in companies from the Tulane University ecosystem, announced that David Mussafer — namesake of Tulane’s Mussafer Hall, chair of the Board of Tulane and benefactor of the Tulane Innovation Institute, including endowing the David and Marion Mussafer Chief Innovation and Entrepreneurship Officer position — has committed an anchor investment in the fund.
The Mussafers’ commitment brings 1834 Ventures to the doorstep of its $20 million fundraising target as the fund approaches its final close — over 95% committed to date. Mussafer is the chairman emeritus and managing partner of Advent International, one of the world’s leading private equity firms, and he has been a longtime supporter of Tulane University. Mussafer’s investment in 1834 Ventures, co-founded by Tulane alum Evan Nicoll and Patrick Hernandez, reflects his belief in the potential of the Tulane ecosystem to produce exceptional companies and his commitment to supporting economic growth in Louisiana.
“1834 Ventures is doing something that genuinely matters — not just for Tulane but for New Orleans and for Louisiana. Evan and Patrick have built something real in a remarkably short period of time, and I am proud to support their work and the founders they are backing. The Tulane network has always punched above its weight. 1834 Ventures is making sure that talent and ambition stay in Louisiana and get the capital they deserve,” Mussafer said.
Since its public launch in August 2025, 1834 Ventures has grown its portfolio to 15 startup companies led by founders from the Tulane alumni network or spinout companies born from the university’s research. Eleven of those companies are either headquartered in New Orleans or have expanded operations into Louisiana. The fund has built an investor community of 66 investors across 17 states, anchored by a significant commitment from Louisiana Economic Development Corporation through the Louisiana Opportunity Fund.
Although independent of Tulane University, 1834 Ventures works closely with the Tulane Innovation Institute and the Tulane Venture Fund on co-investment, deal syndication, programming and ecosystem initiatives, serving as a bridge between the university’s commercialization efforts and the broader venture capital community.
“1834 Ventures has quickly become a cornerstone of Tulane’s innovation ecosystem,” said Kimberly Gramm, David and Marion Mussafer Chief Innovation and Entrepreneurship Officer at Tulane University and a member of the advisory board of 1834 Ventures. “The collaboration among 1834 Ventures, the Innovation Institute and the Tulane Venture Fund reflects the strength of a community committed to supporting entrepreneurship. The Mussafers’ investment sends a strong message about the opportunities that emerge when alumni, investors and university leaders rally behind founders.”
“From the beginning, our goal with the Louisiana Opportunity Fund has been to catalyze exactly this kind of investment in Louisiana’s innovation economy,” said Josh Fleig, chief innovation officer at Louisiana Economic Development. “1834 Ventures has demonstrated that venture capital and Louisiana are not mutually exclusive. The caliber of investors and companies they have attracted in their first year and the Mussafers’ investment validate everything we believed when we made this commitment to the fund and to the Tulane ecosystem.”
“When we set out to build 1834 Ventures, we made a simple bet: that the Tulane network was one of the most underleveraged assets in Louisiana,” said Nicoll, co-founder and managing partner of 1834 Ventures. “One year in, we are seeing the results of what happens when that network chooses to reinvest in the region that helped shape them. The seeds have been planted to generate real impact for Louisiana’s economy.”
“None of this would have been possible without our partners, including the Tulane Innovation Institute, the Albert Lepage Center for Entrepreneurship, the broader Tulane community that has rallied behind this vision and Louisiana Economic Development, which has been the engine behind it all,” added Hernandez, co-founder and managing partner of 1834 Ventures. “We look forward to completing the fund and turning our full focus to supporting the next wave of Tulane founders.”