A new investment bank, which plans to assist growing companies in Louisiana and across the Gulf South, has been formed. Roemer, Robinson, Melville and Company controls about $30 million, says Chas Roemer, president and CEO. Roemer says the bank is separate from Business First Bank. “This is a lot more focused on venture capital than traditional lending,” he says. “Plus, the ownership is separate.”
Roemer says the company hopes to lend out the money over the next 18 months. The entrepreneurial funds are set up for companies that are operational, but experiencing “growing pains” and need additional capital to expand or grow. Roemer says the fund isn’t targeted toward any specific industries. “There are fields we like, however, like health care, energy and real estate.” Roemer says the tight credit market and the national recession made it both a good and a bad time to set up the fund. “A lot of people who would go to us might have gone to a traditional bank a year ago,” he says. “The people who invested for this see an opportunity to help companies.” —Timothy Boone
