Maine Angels is actively looking for new investments.
To efficiently share information about your company with our members and receive rapid feedback, submit an online application to us on Gust, the angel industry standard investment management platform. APPLY HERE
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 plans to meet growing markets
- Management capable of executing the plan
- Attractive deal terms
- Achievable exit strategy that exploits opportunity
- Preference for East Coast/ New England deals within site visit range
- Companies outside Maine must be engaged with an investment organization to lead the proposed investment prior to applying to Maine Angels
- You establish an Entrepreneur account on Gust and add Maine Angels to the Investors on your "Home" tab (click "Apply for Funding").
- Follow the guidelines in the "Instructions" tab to create your application, then Click the "Submit" button to make your application visible to Maine Angels members. Applications "Submit"-ted on Gust after the cutoff date for a Screening Committee Meeting are automatically considered for the following meeting.
- Maine Angels members will conduct an initial review of your materials. They may contact you with questions or suggestions, or to discuss how your enterprise fits with our members' interests.
- You will receive an email response to your application within 3 business days of the Screening Committee Meeting If you are selected to present, a member will contact you and host you though your presentation at a Member Meeting. Only 2-3 entrepreneurs (about 20% of companies applying) are invited to present at each monthly Member Meeting. Occasionally we may ask you to provide additional information for re-consideration at a future Screening Committee Meeting. If your enterprise is not selected to present, you are welcome to re-apply in future if there is a significant change in your approach (pivot) or significant progress along your business plan (maturing). Follow the steps above to make a new application on Gust with your updated information.
- If you are invited to the Member Meeting, you will have 15min to present your company followed by 15min Q&A from members. It's helpful to bring other principals of your company. Your host will confirm who will attend and their role in your enterprise.You are invited to attend only this 30min part of the meeting, and will receive an email response of the result within 3 business days of the Member Meeting. Members will discuss your application immediately after your presentation. If there is sufficient interest, volunteers form a "Diligence Team" of members lead by a "Deal Lead" member who will contact you.
- The next step is usually a "Diligence Kickoff" meeting with your company and the Diligence Team within 7 business days of the member meeting. This starts a process of detailed questioning and investigation. The Diligence team publishes its findings to all Maine Angels members for their individual decisions on investing in your company.If the investment is led by another investor group, members will request that group share their diligence and investment terms.If you and the Diligence team agree that Maine Angels will be the lead investment group for this round, we will negotiate a detailed investment term sheet with you, and provide it to our members.If your fundraising target is not fully subscribed by Maine Angles members, we may agree to help you secure additional funding from strategic partner organizations within Maine or other New England investment organizations.
- Our goal is to complete diligence and identify next steps within one month of your Member Meeting presentation. We will identify a "Lead Investor" member who will invest in your enterprise and will remain Maine Angels main point of contact for you. If it becomes clear that no members plan to invest, we will notify you promptly by email.
Successful applications will include:
- Thorough market assessments; consumer/client interests (demand), competition (supply)
- Sound fiscal planning; realistic start-up timelines, expenses, and revenue projections
- Detailed statement of the team's background and fit with the specific opportunity pursued
- Clear explanation of the use of funds and milestones to be achieved with the funds
Be prepared to submit:
- Executive Summary
- Business Plan
- Financial Plan
Company Stage at Initial Investment
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Total Maine Angels Investment Per Company
Up to $100k 26%
Over $400k 19%
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Invested Company Locations
New England 46%
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