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Resource Guide for Chittenden County Businesses - Venture Capital Sources

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The Barred Rock Fund, Inc.
Description: The Barred Rock Fund, founded by Ben Cohen and former
Ben & Jerry’s president Chuck Lacy, is a $5 million, 501c3
non-profit venture capital fund investing in companies likely
to create jobs and stock ownership opportunities for low
income people.

Based in Jericho, Vermont, the fund makes seed and growth
stage equity investments in the range of $200,000 to $750,000,
primarily in the northeastern United States. Companies must
have the potential to create decent entry-level jobs offering
livable wages, health insurance, and stock ownership for all
employees. The fund also makes loans to community
development financial institutions.

The fund seeks entrepreneurs who already have a segment of
their market staked out and are interacting closely with core
customers, with special emphasis on food and other companies
selling through natural foods and grocery stores. It
rarely invests in start-up companies.

Address: 324 Brown's Trace
Jericho, VT 05465
Phone: (802) 899-2776
Fax: (802) 899-5266
Contact Name: Chuck Lacy, President
Coastal Enterprises, Inc. (CEI)
Description: Coastal Enterprises, Inc. (CEI) is a nonprofit community
development corporation and community development
financial institution. While the organization’s primary market
is Maine, in recent years CEI has made equity investments
throughout northern New England through its wholly-owned
subsidiary, CEI Ventures, Inc. With a total nearing $35 million,
CEI’s venture capital funds investments range from $50,000 to
$1,000,000 in companies whose products range from IT to
organic compost.

CEI Ventures, Inc.
CEI Ventures, Inc. operates two funds: the $5.5 million CEI
Ventures GP, and the $17 million CEI Ventures II LLC.
In 2001, CEI was licensed by the SBA to operate a New
Markets Venture Fund, to be managed by CEI Community
Ventures, Inc., a wholly owned subsidiary of CEI. This $10.2
million CEI Community Ventures Fund LLC will invest in small
businesses located in qualified census tracts throughout
Maine, New Hampshire and Vermont. CEI Community
Ventures will also manage an operational assistance component
of the fund to provide appropriate technical assistance
to starting and expanding firms.

For more information, please contact:
Nat Henshaw
CEI Ventures, Inc.
2, Portland Fish Pier
Portland, Maine, 04101
E-mail: nvh@ceimaine.org

or

Michael Gurau
CEI Community Ventures, Inc.
2, Portland Fish Pier
Portland, Maine, 04101
Phone: (207) 772-5356
Fax: (207) 772-5503
E-mail: mhg@ceimaine.org

Fresh Tracks
Description: • FreshTracks Capital pursues early-stage equity investment
opportunities of between $250,000 and $1.5 million
in private companies in the fields of software, hardware,
telecommunications, media, consumer products,
business information or biotechnology.
• FreshTracks Capital examines the following criteria when
considering prospective investments: quality and
strength of the management team; size and growth of the
market; competitive advantage of the products or
services sold and the soundness of the business model.
• FreshTracks Capital works closely with its portfolio
companies through board membership, strategic and
financial advice, and support in seeking qualified and
talented individuals for senior management roles.
Address: P.O. Box 927 
5 Park Street
Middlebury, VT 05753
Phone: (802) 388-6283
Fax:  (802) 388-1606
Contact Names: Cairn Cross and Charles Kireker
Vermont Venture Network
Description: The Vermont Venture Network is a not-for-profit organization
with the purpose of stimulating interaction among entrepreneurs,
equity investors, other capital sources, managers
seeking roles with new companies, and professional service
providers. Our monthly meetings bring together a diverse
group of individuals from northern New England, providing
excellent networking and idea exchange opportunities as well
as being a source for information about other regional
business events.
Address:  Merritt & Merritt
131 Church Street, 3rd Floor
PO Box 5839
Burlington, VT 05402
Phone:  (802) 658-7830
Fax: (802) 658-0978
Contact Name:  Danielle F. Krom

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Page last updated July 3, 2003

 

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