January 17, 2017 (Brunswick, Maine) – CEI Ventures today announced the final closing on its fourth Venture Capital fund, Coastal Ventures IV, LP, at just under $10 million. This new fund will provide much needed growth equity capital to small businesses in Maine and the Northeast.

Currently, CEI Ventures is actively investing from two funds with $20 million under management. Coastal Ventures IV, like prior funds, seeks to create quality jobs and promote socially responsible products and services, particularly those improving the environment.

Coastal Ventures IV was capitalized by 17 local and regional banks as well as eight individual investors.  Parent company, Coastal Enterprises, Inc. (CEI), provided an anchor investment of $1.5 million in the new fund.

“We want to thank our returning and new investors for their help in carrying out the important work of community and environmental impact investing.”

-Nathaniel Henshaw, President of CEI Ventures, Inc.

Founded in 1996, CEI Ventures was has raised over $45 million and invested in over 50 companies.  In turn, these companies have helped create over 2,000 net new jobs, the majority of which have benefited people with low to moderate incomes. Notable prior successful investments include Coast of Maine Organic Products, Innov-X-Systems, Cuddledown, Bar Harbor Foods, SmartPak Equine, RecruiterNet, eCopy, Beacon Analytical Systems, Soleras, Ltd, World Harbors Foods, Ektron Inc., and Avia Biosystems.

Current active portfolio investments demonstrating strong growth, employment, and environmental benefit include Pika Energy, Certify, Tilson Technology Management, BlueTarp Financial, Native Energy, Rustic Crust, Hyperlite Mountain Gear, Mingle Analytics, Maine Craft Distilling, and Gelato Fiasco.

CEI Ventures provides growth capital growing companies with innovative technologies or products and strong management. Initial investments are typically range from $250,000 to $750,000. Nat Henshaw and Chandler Jones serve as primary investment managers and Thao Duong is the Fund Administrator.  CEI Ventures is a wholly owned subsidiary of Coastal Enterprises, Inc. (CEI), a 501c(3) Community Development Finance Institution (CDFI), located in Brunswick, Maine.