“What we noticed was that local founders here were being overlooked, not because their ideas weren’t strong, but because they didn’t ‘look the part’ compared to founders on the coasts.”
That’s how Kwamena Aidoo describes the problem Corridor Ventures set out to solve when it launched in New Orleans in 2022. The young investment firm focuses on backing promising startups in the South at the very earliest stages, when raising money is often toughest.
Aidoo, who built a career in finance and private equity, teamed up with Kelli Saulny, a New Orleans native with deep roots in entrepreneurship and nonprofit support. Saulny helped grow Carol’s Daughter, the beauty brand later acquired by L’Oréal, and worked at Camelback Ventures, which supported women and minority founders. Aidoo co-founded Cannon Capital, a $100 million fund, and earlier worked at major investment firms in New York.
Together, they created Corridor Ventures to bridge the funding gap in the region. The firm typically invests up to $500,000 in fields like health, climate and technology, while also offering hands-on guidance and connections to help founders succeed.
In this week’s Talking Business, Saulny and Aidoo discuss their strategy, the challenges they see for Southern entrepreneurs, and what it means to build a venture firm in New Orleans.
The following has been edited for clarity and length.
Why base Corridor in New Orleans?
Aidoo: All four of us who launched the firm — Kelli and me, along with partners Jarrett Cohen and Adrian Mendez — are from New Orleans or the South. We built careers elsewhere, then came back. What we noticed was that founders here were being overlooked, not because their ideas lacked promise, but because they didn’t “look the part” compared with entrepreneurs on the coasts. Investors often chase a familiar mold — the next Zuckerberg, for example — rather than evaluating each founder on their own merits.
When I returned in 2018, I started coaching founders, often through Kelli’s connections at Camelback. The talent was clear. The lack of capital was, too. That gap led directly to starting Corridor.
Kelli, what did you see on the ground when you worked with Camelback?
Saulny: I had spent years in New York, helping build a company that eventually sold to L’Oréal. So I knew what capital and networks could do for a young business. Coming home, I saw founders with terrific ideas tackling big issues — whether in hospitality, culture, or water management. But too often, their work stalled because they didn’t have the money or the relationships to take the next step.
One strength of Southern entrepreneurs is that they’re close to the problems they’re solving. That gives them insight and urgency. We wanted to provide the missing piece: funding, along with practical guidance.
How has fundraising gone since you launched?
Aidoo: We didn’t rush. In 2022, we spent time traveling the South — Atlanta, Raleigh-Durham, Birmingham, Tampa — testing our theory that overlooked founders were everywhere. By 2023, we raised about $2 million from regional banks, family offices and individual investors, and made our first five investments, including two in New Orleans.
This year, we’ve been raising a $30 million flagship fund and have closed about $3.5 million so far, including some institutional backing.
Our local portfolio includes Ingest, a restaurant technology company that’s grown from under $300,000 in annual revenue to more than $2.5 million, and Obatala Sciences, which develops alternatives to animal testing. Those companies show the potential here when capital meets talent.
Some local incubators have been criticized for a lack of diversity. What’s Corridor’s perspective?
Saulny: I can’t speak for every group, but for us, diversity is a natural outcome of where we operate and who we are. Our networks are broad, so we see a wider range of founders. That makes our portfolio more reflective of the South.
Aidoo: Exactly. We don’t have a mandate around race or gender, but we also don’t fall into the trap of backing the same kind of founder over and over. That’s both a responsibility and an advantage.
What more could New Orleans and Louisiana do to support this ecosystem?
Aidoo: Collaboration is critical. I’m encouraged to see groups like Idea Village, Momentum Fund and Nexus Louisiana beginning to work together. But we also need more local capital at the table. Too much wealth here sits on the sidelines, flowing into private deals instead of startups. If more of that money supported early-stage companies, we’d build a stronger funding pipeline.