Small Enterprise Growth Board

The SEGF was created by an act of the Maine Legislature in 1995 to provide Maine companies and entrepreneurs access to patient sources of venture capital. The Fund is a revolving "evergreen" fund - all income and returns go back into the fund for investing in additional Maine companies. It is a professionally managed venture capital fund that invests exclusively in Maine companies that demonstrate a potential for high growth and public benefit. It "fills the financing gap" between R&D activities and bank debt by investing in small Maine companies with the potential for high growth. The Fund works cooperatively with banks across the State, and beyond, in bringing capital to small growth companies in Maine. Lenders refer clients that need equity capital, and likewise, the Fund uses its strong bank relationships to introduce companies that have grown to the stage where they can meet bank underwriting guidelines.