Maine Angels helps entrepreneurs by investing in and mentoring early stage companies. Our goal is to make sound investments in promising New England entrepreneurs with an emphasis on Maine businesses.
Members from diverse business backgrounds collaborate to share the process of vetting, investing and advising. While bound by mutual interests we invest individually.
Our own diversity, and that of the Maine economy, means our investments span many industries. Over ten years and 42 companies in our portfolio of investments, our choices have included both pre-revenue and early revenue companies. Investments have ranged from $35K to $710K as a group, usually as part of a larger financing along with other investors with whom we partner.
We are selective both in our investments and our choice of partners, and are actively seeking both new investments and new members. We look forward to learning more about you.
Maine Angels members generally are looking for the following attributes in an investment opportunity:
- Differentiated product or service - Emerging market for the product - Scalable business with plan to meet growing market - Management capable of executing to plan - Attractive deal terms - Achievable exit strategy that exploits opportunity - Preference for East Coast/ New England deals within site visit range
To be considered by Maine Angels, companies need to submit the application form, an Executive Summary (preferably addressing the key points noted above), and a term sheet or description of terms. Maine Angels members will consider the opportunity at a screening meeting (cutoff for consideration generally is receipt by Maine Angels no sooner than two weeks prior to the next scheduled meeting on the 4th Friday of the month). The entrepreneurs from the top 2-3 deals would be invited to make a presentation in person to the Maine Angels membership at the upcoming meeting. It there is sufficient interest to pursue a venture by at least 3 or more members, a deal lead will contact the company for more information, and conduct additional due diligence. If there is not sufficient interest to go forward, the company will be contacted, most likely by email.
Maine Angels Invests In These Industries
Maine Angels Invests In Companies That Have Reached The Following Milestones
Product In Development - $3M in Trailing 12 Mo. Revenue
Concept OnlyProduct In DevelopmentPrototype ReadyFull Product Ready$500K in Trailing 12 Mo. Revenue$1M in Trailing 12 Mo. Revenue$3M in Trailing 12 Mo. Revenue$5M in Trailing 12 Mo. Revenue$10M in Trailing 12 Mo. Revenue$20M in Trailing 12 Mo. Revenue$50M in Trailing 12 Mo. RevenueMore than $50M in Trailing 12 Mo. RevenueMore than $50M in Trailing 12 Mo. Revenue ►◄ Concept Only
Maine Angels Invests In Companies With These Funding Needs
Pre-money Valuation: USD500,000 - USD5,000,000
Capital Seeking: USD100,000 - USD2,000,000
Previously Raised: USD0 - USD500,000
Maine Angels Expects Their Investments To Generate
Expected Revenue By Year 5: USD10,000,000 - USD50,000,000
Expected Returns: 10x Investment - 50x Investment
Expected Years to Exit: 2 Years - 7 Years
Expected Years to Break Even: 1 Year - 3 Years
Maine Angels Investment Portfolio
Ask to Join as an Investor
Are you an accredited investor? Ask to join Maine Angels by filling out their Membership Application.