Maine Venture Fund (MVF) is a venture capital fund created by the Maine Legislature in 1995 and actively investing in Maine companies since 1997. It makes equity investments in Maine-based businesses with high growth and public benefit potential, typically writing initial checks around $100,000 and investing alongside co-investors through priced equity, convertible notes, SAFEs, or venture debt.
MVF operates as an evergreen revolving fund and has deployed more than $56 million across over 250 deals into more than 65 portfolio companies. The fund is governed by an eleven-member Small Enterprise Growth Board and managed by a team led by Senior Managing Director Joe Powers, Managing Director Nina Scheepers, and Operations Manager Terri Wark.
Maine Venture Fund - Portfolio Snapshot
Portfolio activity breakdown across disclosed investments and stages
Total Investments44
Current Portfolio Count31
Total Portfolio Exits1
Top Investment Stages
Seed16 (39.0%)
Series Unknown10 (24.4%)
Series A9 (22.0%)
Grant4 (9.8%)
Convertible Note2 (4.9%)
Stage Mix
Seed 39%Series Unknown 24%Series A 22%Grant 10%Convertible Note 5%
Concentration shown as share of disclosed investments by stage.
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Maine Venture Fund - Classification
- Tags
- NAICS
- 520000Finance and Insurance
- 523000Securities, Commodity Contracts, and Other Financial Investments and Related Activities
- 523900Other Financial Investment Activities
- 523990All Other Financial Investment Activities
- 523999Miscellaneous Financial Investment Activities
- SIC
- 6700Holding And Other Investment Offices
- 6790Miscellaneous Investing
- 6799Investors, Not Elsewhere Classified
Show 5 more industry codes
- NAICS
- 525000Funds, Trusts, and Other Financial Vehicles
- 523910Miscellaneous Intermediation
- SIC
- 6000Depository Institutions
- 6720Investment Offices
- 6722Management Investment Offices, Open-end