4 Top Venture Capital Firms in Maine

It is no surprise that Maine is considered the best state in New England to start a successful VC company, as it has a long history of entrepreneurialism and supporting companies. Maine's fifth-generation fishing and fishing families, innovative forestry products, manufacturers, and advanced biotechnology are testaments to the ingenuity that runs in their blood. 

As part of the 10-year Strategic Economic Plan, to assist the economic recovery from COVID-19, Maine is making dramatic investments in innovation and Maine businesses to continue this legacy. 

Below are just some of the VC firms and programs offered in the state.

We also recommend checking out our full list of the top venture capital firms.

Top Venture Capital Firms in Maine Article.

Best Maine VC Firms

1. North Atlantic Capital

  • Location: Portland, ME
  • Industries: Market-leading, rapidly-growing, technology-based companies
  • Stage: Expansion, Pre-Public
  • Notable Portfolio Companies: Blue Ridge Networks, Boost. Chartbeat, Ellevation, Invoke

North Atlantic Capital targets high-growth, late-stage technology companies in the United States that are seeking growth capital. They have invested their fifth fund, which is worth more than $123 million. 

North Atlantic Capital targets companies with annual revenues of at least $10 million. They invest in high-growth, late-stage technology firms and provide subordinated debt with warrant or equity features that typically range from $5 million to $10 million. Their initial investments are deeply subordinated to senior working capital loans in order to provide patient risk capital.

2. Maine Venture Fund

  • Location: Newport, ME
  • Industries: Maine companies that demonstrate a potential for high growth and public benefit
  • Stage: Seed
  • Notable Portfolio Companies: Chimani, Circa, CourseStorm, Dream Local Digital, High Byte

Since its establishment in 1995 by the Maine Legislature, the Maine Venture Fund, a professionally managed venture capital firm, has been actively investing in Maine companies with the potential for high growth and public benefit.    The Fund has received $13 million in capital contributions from the Maine government and operates as an "evergreen" fund. 

In addition to small and medium companies, the Fund considers companies in a wide range of industries with the potential for significant expansion and public benefit. The Maine Venture Fund's mission is to provide resources for attracting, supporting, and developing eligible small businesses with the potential for substantial growth and success to contribute to Maine's prosperity.

3. Blackstone Accelerates Growth

  • Location: Brunswick, ME
  • Industries: Healthcare, Consumer, Enterprise Software, Financial Services, Consumer Technology
  • Stage: Seed, Expansion
  • Notable Portfolio Companies: Candle Media, Ancestry, Bumble 

Through entrepreneurship and growth, Blackstone Accelerates Growth (BxG) creates employment and economic development. They cooperate with their partners to develop state-wide initiatives with coordinated, focused efforts to spur companies, associations, and the next generation of Maine entrepreneurs. 

Working as part of the Blackstone Charitable Foundation, a $50 million Entrepreneurship Initiative to support innovative programs that generate employment, is part of their work.

4. Black Point Group

  • Location: Portland, ME
  • Industries: Biotech, Healthcare, Pharmaceuticals, Science, and Research
  • Stage: Seed, Expansion
  • Notable Portfolio Companies: The National Park Foundation, The Sargasso Sea Alliance, The Jackson Laboratory 

Black Point Group is an investment partnership focused on long-term value creation by participating in public and private growth companies in various industries. Public service is one of the sectors in which the partnership has significant involvement due to its expertise in life science, technology, and other domains.

Black Point Partners provides technology companies with high-quality mergers & acquisitions, private placement, and financial advisory services. We have an excellent track record for closing high-value, complex deals, even in uncertain environments.