The Small Enterprise Growth Fund of Maine, now operating as the Maine Venture Fund (MVF). See contact routes.
The Small Enterprise Growth Fund of Maine, now operating as the Maine Venture Fund (MVF), is the State of Maine’s legislatively created venture capital fund established in 1995 to provide patient capital to local entrepreneurs. MVF invests exclusively in early-stage Maine companies with fewer than 50 employees or under $5 million in annual revenue that demonstrate high growth potential and public benefit such as job creation. The fund typically makes initial investments of up to $400,000 and requires a co-investment from other sources equal to or greater than its own amount, usually participating as a follow investor rather than a lead. MVF reserves additional capital for follow-on rounds and seeks risk-adjusted returns within a five-to-seven-year horizon while ensuring it does not exceed 20% of any single fundraise. Notable portfolio companies are not explicitly named in available public records, though the fund has actively invested since 1997 across Cumberland, York, Oxford, Knox, Hancock, Lincoln, and Penobscot counties. The fund’s distinctive point of view centers on requiring a “real connection to Maine” through team location, economic impact, or
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