CEI Ventures raises $10 million to back good jobs and small businesses in Maine

The fourth fund of the venture arm of the nonprofit community development finance institution will look for investments of $250,000 to $750,000 that support jobs for low- to moderate-income Mainers. Coastal Enterprises Inc., CEI Ventures’ parent company, seeded the fund with $1.5 million, which helped bring in eight investors and 17 local and regional banks. CEI Ventures claims to have helped create 2,000 jobs through more than 50 investments in the last 20 years.

Photo credit: Fred Bever / MPBN

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