Less than $250,000
Small Enterprise Growth FundSmall Enterprise Growth Fund Contact: John Burns
Small Enterprise Growth Fund (SEGF) invests in Maine. Investments from the Fund will focus on industries that support and enhance the economic development strategy of the State. The Fund invests in a wide variety of industries, the key criteria being that the company have the potential for high growth and public benefit.
Our initial investments are typically between $150,000 and $350,000, leaving capital available for follow-on rounds of investment. Companies must employ 50 or fewer people or have had gross sales of $5,000,000 or less within the past 12 months in order for the Fund to make an initial investment. There is no size limitation for follow-on rounds. Companies must receive a co-investment in an amount at least equal to the amount invested by the SEGF.
An example of a clean technology company in our portfolio is Harbor Technologies (green maritime building products).