Micro-VC Funds Within Range of Maine

posted on October 15th, 2015 in Category:

By Jayme Okma Lee, Investment Manager, Maine Venture Fund

The majority of venture capital funds will only invest in companies within driving distance to their offices. This can be a real disadvantage to companies in Maine, which sometimes are literally at the “end of the line”.  For this reason Maine companies seeking equity capital outside of the State often have a hard time getting the attention of the large VC funds.

I recently came across a list created by Samir Kaji (pevcbanker.com) of 250 “Micro-VC Firms.” Samir Kaji defines micro-VC firms as venture firms that raise funds that share the following characteristics:

  • Less than $100M in size (although most are smaller than $50M)
  • More than 80% of initial checks are invested in seed rounds
  • Invest on behalf of 3rd-party investors (LPs)

For most companies in Maine, especially those that Maine Venture Fund works with, will up their chances by focusing on driving-distance funds, and/or those deeply focused on their industry. For the full list, and other great posts of the Micro-VC market visit: http://pevcbanker.com/mapping-out-micro-vc/

Below is an abbreviated list including those firms close enough to home to be most relevant to Maine companies seeking early stage equity capital. I’ve added some additional information to the list, including website links as well as some general information on sector focus from a quick review of the funds’ websites. Apologies if any fund is misrepresented; feel free to reach out and let me know.

$0-25MM

http://vaynerrse.com/

645 Ventures NY Various Software & IT http://645ventures.com/
Advancit Capital Boston Media, Entertainment, Tech http://www.advancitcapital.com/
Bolt Boston Hardware https://www.bolt.io/
Common Angels Boston Various Software & IT http://commonangels.com/
Dorm Room Fund NY Multi-sector, Student run businesses http://dormroomfund.com/
Female Founders Fund NY Female founders, e-commerce, platforms, web http://femalefoundersfund.com
Indicator Ventures Boston Multi-sector http://www.indicatorventures.com
LaunchCapital Boston Multi-sector http://www.launchcapital.com/
Mesa Ventures NY Consumer, Internet http://www.mesa.vc
Neu Venture Capital NY Multi-sector, first investor in http://neuvc.com/
Notation Capital NY Super early, technical founders http://notationcapital.com/
Primary Ventures NY SAAS, commerce http://www.primary.vc/
Progress Ventures Boston B2B, Mkt & Media Tech http://www.progressventures.com
Red Swan Ventures NY eCom, Mobile, Software https://angel.co/red-swan
Scout Ventures NY Tech, software http://www.scoutventures.com/
Vast Ventures NY Multi-sector http://www.vastvc.com/
Vayner/RSE NY Consumer
Venture51 NYC Tech, software http://www.venture51.com
Winklevoss Ventures (Capital) NY Multi-sector https://winklevosscapital.com
Work-Bench Ventures NY Enterprise Software http://www.work-bench.com

$25MM-$50MM

Aperture Ventures NY Healthcare http://www.aperturevp.com/
Bowery Capital NY B2B Software http://www.bowerycap.com/
Contour Venture Partners NY FinTech, SAAS, Dig Media http://www.contourventures.com/
Dace Ventures Boston Media, Mkt, Mobile http://www.daceventures.com/
Data Point Capital Boston Internet http://datapointcapital.com/
ff Venture Capital NY Multi-sector http://ffvc.com/
High Line Venture Partners NY Multi-sector http://www.highlinevp.com/
Initialized Capital NY Mobile, software, design http://www.initialized.co/
Karlani Capital NY Multi-sector http://karlani.com/
NextView Ventures Boston Internet http://nextviewventures.com/
Project 11 Boston Software, tech http://www.project11.com/
Red Sea Ventures NY Multi-sector http://www.redseaventures.com/
Resolute VC Boston/SF Multi-sector http://www.redseaventures.com/
Romulus Capital Boston Multi-sector http://romuluscap.com/
Valar Ventures NY Multi-sector http://www.valar.com/

$50MM-$75MM

ENIAC Ventures NY Mobile Tech http://eniac.vc/
Great Oaks Venture Capital NY Multi-sector http://www.greatoaksvc.com/
Kepha Partners Boston Software, tech http://www.kephapartners.com/
Lerer Ventures NY Multi-sector http://lererhippeau.com/
Metamorphic Ventures NY Multi-sector tech http://www.metamorphic.vc/
Raptor Ventures Boston Multi-sector http://www.raptorgroup.com/

$75MM+

Arcus NY healthcare http://www.arcusventures.com/
Cue Ball Capital Boston Multi-sector http://www.cueball.com/
IA Ventures NY Multi-sector http://www.iaventures.com/