About Dirigo Angel Funds

 

The Maine Angels Dirigo sidecar funds provide important seed capital to impactful Maine entrepreneurs while serving as a low-minimum and low-cost vehicle for investors to diversify their Maine-based portfolios. The Funds align with Maine Angels’ mission as a nonprofit to educate and grow the Maine investor and entrepreneur ecosystem. The funds aim to:

  • Combine funds from individual investors and Maine institutions to stimulate Maine’s economy and startup ecosystem

  • Offer individual investors access to a diverse portfolio of angel investments

  • Provide bank investors with cost-effective Community Reinvestment Act credit

  • Increase available funds for entrepreneurs, making Maine Angels an attractive funding source

Dirigo Fund III

The current Dirigo III Fund builds on the success of previous funds: Bangor Angel Funds (I, II, III) (2014–2018) & Dirigo (I and II) (2018–2025). Collectively, these funds have raised $7.4 million in investable capital, made 60 investments totaling $7.2 million, and invested $5.2 million in Maine-based companies, with 85% of the Maine-based companies qualifying for the Maine Seed Capital Tax Credit (MSCTC).

The current Dirigo III Fund seeks to invest in 12-15 companies over the next 2-3 years, with the following investment targets:

  • 75% Maine-based companies

  • 40% owned or managed by women or historically underrepresented minorities (HUMS)

  • 25% in priority sectors (Cleantech, Aquaculture/Blue Economy, Agriculture/Forestry, Life Sciences)

katahdin-15_orig.jpg

Mount Katahdin

For Entrepreneurs

For Entrepreneurs

Entrepreneurs seeking investment from the Dirigo III Fund should apply to Maine Angels directly. Companies that receive sufficient investment from Maine Angels members will be considered by the Dirigo Angel Funds. 

—————————————————————————

Investor Information

For Investors

Please direct questions about the investment process for Dirigo Angel Fund III to contact@maineangels.org.

If you are an accredited investor and would like to participate in future Angel funds or the Maine Angels, please refer to the Maine Angels webpage, “For Investors - Become a Member,” or contact Maine Angels at contact@maineangels.org for membership information.

MIP AERIAL MOUNT KINEO MOOSEHEAD MAINE-1333-L.jpg

Dirigo:

Latin for “I direct” or “I lead”

Mount Kineo, Moosehead Lake, Greenville Maine