ED/FOF  Maine Economic Development

http://www.famemaine.com





     Office Locations:

Finance Authority of Maine (FAME)
5 Community Drive, P.O. Box 949
Augusta, ME 04332-0949
Phone: 207-623-3263
Fax: 207-623-0095

 

Stages:

  • Early
  • Growth


 

Industries:

  • Information Technology

  •  

    Description:

    The Maine Economic Development Venture Capital Revolving Investment Program is designed to allow the State of Maine to invest as an equal partner with others in eligible private venture capital funds to support emerging and early-growth businesses in Maine. It is intended to utilize experienced professional fund managers to increase the probability of successful investments and the success of recipient companies. The firm's maximum investment is $1,000,000 per fund. The Board of Directors of the Finance Authority of Maine (FAME) approved a new rule to govern the newly created Maine New Markets Capital Investment Program. The Maine New Markets Capital Investment Program provides refundable state tax credits of up to 39% to investors in qualified community development entities (CDEs) that reinvest in certain businesses in eligible low-income communities in Maine. The program is modeled after the federal New Markets Tax Credit Program, and is administered by the Finance Authority of Maine, in cooperation with Maine Revenue Services and the Maine Department of Economic and Community Development. As of January 28, 2013, the program statutory limit of $30 million has been reached. Absent future legislative action, FAME will be unable to process applications or issue tax credits. FAME will not award any further credits at this time, even if investments have already been made.



    Investment Firm Key

       VC = Venture Capital
       PE = Private Equity
       A = Angel
       I = Incubator
       MB = Merchant Bank
       VD = Venture Debt
       FI = Family Investment Office
       FOF = Fund of Funds
       ED = Economic Development Office   
       TT = Technology Transfer Office
       CVC = Corporate Venture Capital
       SEC = Secondary Purchaser
       HF = Hedge Fund/Mutual Fund
       
       
       
    COMPANY STAGEREVENUE
    Venture Capital
    Seed Stage
    (includes "pre-seed," or
    concept stage)
    No Revenue
    Early StageMinimal
    Revenue
    Growth Stage
    (also called Mid-stage)
    $2M-$7M
    Expansion Stage
    (also called Late-stage)
    $7M and greater
    Private Equity
    Lower Middle Market$10M-$249M
    Middle Market$250M-$499M
    Upper Middle Market$500M-$1B
    Large Cap>$1B
       
       
     

    Investment Team:


    Name   Title
    Get the complete investment team + individual email addresses for investment team partners. Get personal images, LinkedIn links, investment specialties, office locations and more with a National Database subscription.
    Bruce Wagner Chief Executive Officer

     

    Portfolio companies include:


      Borealis
        web link


      Brook Venture
        web link


      Coastal Ventures
        web link


      Masthead Co.
        web link


     

    Recent News: