Maine Venture Fund
Government fundNewport Β· SeedβSeries B
Investment thesis
Established by the Maine State Legislature, Maine Venture Fund provides equity capital to Maine companies with strong growth and impact potential. The fund emphasizes efficient diligence, active partnership after investments close, and collaboration with co-investors to fill out fundraising rounds. It positions itself as a resource for entrepreneurs even when equity is not the right fit, directing them to alternative funding options. MVF also works with accelerators, institutions, and regional partners to strengthen Maine's startup ecosystem and connect founders with needed resources.
Source: firm website, verified Aug 3, 2026.
Founder mafia
3 people who came through Maine Venture Fund went on to found or lead other companies.
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What they invest in
from 8 of 11 portfolio companiesAdvanced Manufacturing Γ3SaaS Γ3AI & Machine Learning Γ2Consumer Γ2Enterprise Software Γ2FoodTech Γ2IoT Γ2Sports Tech Γ2
HQs:United StatesΓ11
Investments Β· 11 tracked
founders shown can be your intro pathBy year:2024 Β· 22022 Β· 12017 Β· 12015 Β· 15 dated
Kinotek develops technology to measure movement health, providing fast, affordable, and understandable assessments so that professionals can help people maintain mobility.
AI & Machine LearningDigital HealthHealthtechSaaSSports TechPortland, US
David Holomakoff(Founder, Chief Product Officer)inHafner Justin(Manager)Joey Spitz(Chief Revenue Officer)inPat Panaia(Chief Executive Officer)inDan Lesko(Chief Technology Officer)inMarty Miller(Chief Movement Officer)in
BlueTrace provides a cloud-based inventory and operations management platform for seafood businesses, replacing outdated legacy systems and spreadsheets with integrated software for receiving, shipping, picking, packing, and loading.
AgTechFoodTechLogistics & Supply ChainRetail TechSaaS
Co-investorsCEI VenturesiSelect FundYork IE
Orono, US
Susan MacKay(Executive Officer, Director)Karl Bishop(Executive Officer, Director)
BoardPeter Millet(Director)Greg Knight(Director)Robert Hirsch(Director)Donald MacKay(Director)
Co-investorsPropel(X)PureTerra Ventures
Portland, US
Kerry David Gallivan(Executive Officer, Director)
BoardPreston Junger(Director)Shaun Lee Meredith(Director)Steve King(Director)
Co-investorsWildwood Ventures
Defendify provides an all-in-one, multi-layered cybersecurity platform combining tools, modules, and expert support to give organizations ongoing protection.
CybersecurityEnterprise SoftwareSaaSPortland, US
T. Andrew Rinaldi(Executive Officer, Director)inRob Simopoulos(Co-Founder)inAndrew(Co-Founder)Jim(Chief Marketing Officer)Heather(Chief of Staff)
BoardNorman Mentz(Director)
Co-investorsCEI VenturesFreshTracks CapitalThe Alchemy FundWasabi VenturesYork IE
HighByte builds the HighByte Intelligence Hub, an industrial DataOps software product that solves data architecture and integration problems for manufacturing and industrial operations.
Advanced ManufacturingData & InfrastructureIoTPortland, US
Torey Penrod-Cambra(Chief Communications Officer)inJohn Harrington(Chief Product Officer)inTony Paine(CEO)inAron Semle(Chief Technology Officer)inSteven Curtis(Vice President of Sales)in
BoardBen Sampson(Director)
Co-investorsStandard InvestmentsCEI VenturesMomenta Ventures
Hyperlite Mountain Gear designs and sells lightweight backpacking and outdoor gear, including backpacks, stuff sack pillows, and packing accessories made with Dyneema composite materials.
ConsumerDirect to ConsumerSports TechBiddeford, US
Michael St. Pierre(Executive Officer, Director)
Co-investorsCEI Ventures
Portland, Maine farm-to-flask distillery making small-batch spirits and canned ready-to-drink cocktails such as Blueshine Lemonade.
Advanced ManufacturingConsumerFoodTechPortland, US
David Barber(Director)Nathaniel L. Davidson(Executive Officer, Director)Stephen Goldberg(Director)Peter M. Murray(Executive Officer, Director)
Co-investorsCEI Ventures
Portland, US
Sean D Myers(Manager of limited liability company.)William S Mitchell(Manager of limited liability company.)
Co-investorsCEI Ventures
Revert provides smart plugs that use AI to automatically manage power consumption of commercial equipment based on usage patterns and utility rates, reducing phantom load for schools and businesses.
AI & Machine LearningCleantechClimate TechEnterprise SoftwareIoTJersey City, US
Yuan Ryan Li(Executive Officer, Director, Promoter)
Co-investorsTechstars
Advanced ManufacturingSaco, US
Melissa LaCasse(Executive Officer, Director)in
BoardDeborah Mills-Scofield(Director)Mitchell Jacobs(Director)Steve Femino(Director)Gail Constancio(Director)
Frequently asked questions
- What stage does Maine Venture Fund invest at?
- Maine Venture Fund invests at the Seed, Series A, Series B stages.
- What is Maine Venture Fund's typical check size?
- Maine Venture Fund typically writes checks of $100K β $300K.
- What sectors does Maine Venture Fund focus on?
- Maine Venture Fund focuses on Impact & Social Good, Sector Agnostic.
- Where is Maine Venture Fund located?
- Maine Venture Fund is headquartered in Newport, US.
- Does Maine Venture Fund lead rounds?
- Maine Venture Fund typically participates in rounds rather than leading them.
Media Β· Podcasts & interviews
featuring the teamStartup Boards: Forming and Serving with the Maine Venture Fund feat. Joe Powers and John Burns
Association for Consulting Expertise Β· Joe Powers
Images
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