"Focus: Banking & Finance" piece on the Small Enterprise Growth Fund (SEGF), a s

Douglas Rooks

Source

Mainebiz

Date

12-12-2005

Pages

36-38

Abstract

"Focus: Banking & Finance" piece on the Small Enterprise Growth Fund (SEGF), a state-sponsored program that provides risk capital for small Maine companies with strong growth potential. The successful sale of the Portland software firm Recruiternet produced a seven-fold return for the fund, bringing in $1.75 million and a hope that the success will show why the fund is an important part of the state's overall economic strategy. Recruiternet attracted investment from both SEGF and CEI Ventures, a Portland-based for-profit venture capital fund. With comments by John Burns, fund manager at SEGF; Mark Kaplan, a partner at CEI Ventures; Bob Neveu, founder of Recruiternet; and Janet Yancey-Wrona, director of the Office of Innovation at the Department of Economic and Community Development.

Subjects

Small Enterprise Growth Fund

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