Maine Angels
Maine Angels is a nonprofit angel investment network founded in 2003 in Portland, Maine, with 90+ accredited members that has deployed over $44 million into 100+ early-stage New England companies through Dealum-based screening, monthly member meetings, and the Dirigo III sidecar fund targeting diverse founders.
- Company typePrivate
- Founded2003
- HeadquartersPortland, United States
- Headcount51–100
- GTM typeB2B
- OfferingServices
What Maine Angels does
Maine Angels is a nonprofit angel investment network founded in 2003 and headquartered in Portland, Maine. It serves a membership of 90+ accredited individual investors and, on the entrepreneur side, early-stage companies in Maine and the broader New England region seeking seed capital, mentorship, and board-level guidance. Since inception the network has deployed over $44 million into more than 100 portfolio companies spanning biotechnology, medical devices, clean technology, aquaculture, food and beverage, fintech, and consumer products. Portfolio examples include AboGen, American Unagi, Atlantic Sea Farms, Cerahelix, Constant.ai, Hyperlite Mountain Gear, Carmell Therapeutics, Cognoptix, and Siamabab Therapeutics.
The organization's core operational product is a structured investment funnel built on the Dealum platform (the angel industry's standard deal-management tool). Entrepreneurs submit applications through Dealum; a Screening Committee reviews materials; only roughly 2-3 of every 10 applicants advance to monthly Member Meetings; interested members then form due diligence teams, after which individual members make their own investment decisions. The associated Dirigo Angel Fund III (launched 2025) is a sidecar vehicle that co-invests alongside individual members, with stated allocation targets of 75% Maine-based companies, 40% women or underrepresented-minority founders, and 25% in priority sectors (cleantech, blue economy, agriculture/forestry, life sciences).
Maine Angels' revenue model is two-stream and nonprofit: (i) recurring annual membership dues of $750 per active member (billed in November), and (ii) a one-time $1,500 application fee for new members that includes first-year dues. Distribution is community-led: prospective members must be sponsored by a current member, applications flow through Dealum, and the network leverages syndication agreements with peer New England angel groups (eCoast Angels, Golden Seeds, HubAngels, LaunchPad Venture Group, TiE Angels) and partnerships with state venture funding agencies (Maine Technology Institute, Maine Venture Fund, CEI Ventures). The current leadership team comprises Chair Mary Ellen Eagan and Vice Chair Shana Cook Mueller, with Sandra Stone serving as Chair Emerita.
Maine Angels firmographics
Firmographics- Name
- Maine Angels
- Legal name
- Maine Angels
- Website
- https://maineangels.org
- Company type
- Private
- Founded year
- 2003
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Maine Angels is a nonprofit angel investment network founded in 2003 in Portland, Maine, with 90+ accredited members that has deployed over $44 million into 100+ early-stage New England companies through Dealum-based screening, monthly member meetings, and the Dirigo III sidecar fund targeting diverse founders.
- Ownership category
- akta.pro rank
Maine Angels industry classification
Industry- Product category
- Angel Investment Network
- NAICS
- Portfolio Management and Investment Advice (52394), Portfolio Management and Investment Advice (523940)
- SIC
- Investment Advice (6282), Services-Membership Organizations (8600)
- akta.pro primary industry
- Micro-VC & Angel Funds (FSANAAAI)
Keywords
Where Maine Angels is headquartered
LocationHeadquarters
- HQ city
- Portland
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Maine Angels business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Operations, Personnel, Marketing or Sales, Technology or R&D
Revenue model
- Membership Dues: Active members pay annual dues of $750, billed in November. New members pay an application fee of $1,500 which includes dues for the current calendar year.
- Investment Returns: Returns from equity investments in portfolio companies through angel investing. Maine Angels aims for high returns to compensate for investment risk and illiquidity.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| One time/ perpetual license | Annual | New Member Application |
| Subscription | Annual | Annual Membership Dues |
| Other | Pay-as-you-go | Investment Minimums |
Go-to-market motion1 record
Distribution channels2 records
Marketing channels5 records
Maine Angels product offering
Product offeringCore offering
Maine Angels is a nonprofit angel investor network of over 90 accredited individual investors that invests in and mentors early-stage companies in Maine and New England. The organization sources deals through the Dealum platform, screens applications via a Screening Committee, hosts monthly Member Meetings where 2-3 selected companies (about 20% of applicants) present, and individual members make their own investment decisions. The Dirigo Angel Fund III sidecar vehicle co-invests alongside members to expand access for passive investors.
Product overview
Maine Angels is a nonprofit angel investor network that serves as a single unified investment organization rather than a multi-product platform. The core offering is the Maine Angels investment network, which provides early-stage capital and mentorship to entrepreneurs through a membership-based structure of over 90 accredited investors. Associated with the network is the Dirigo Angel Fund III sidecar fund for co-investment, and Dealum platform for deal management. The organization has invested over $44 million since 2003 in more than 100 companies, primarily in Maine and New England.
Differentiator
Problem solved
Functional benefit
Products and services
- Maine Angels Investment Network A nonprofit angel investor network of over 90 accredited individual investors that invests in and mentors early-stage companies in Maine and New England. The organization has deployed over $44 million across more than 100 companies since 2003, with a structured investment process via the Dealum platform, Screening Committee review, monthly Member Meetings, and collaborative due diligence.
- Dirigo Angel Fund III A sidecar investment fund that co-invests alongside Maine Angels members in early-stage ventures. The fund aims to expand access to passive investors and support inclusive economic growth in Maine by targeting women and underrepresented founders and priority sectors.
Quantifiable outcome
- $44 million+ invested since 2003
- +2 more outcomes
Companies that use Maine Angels
Customer profileNamed customers9 records
Segments3 records
Ideal customer profiles2 records
Maine Angels technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Maine Angels partnerships and signals
Strategic signalPartnerships
Twelve partnerships are on record, tiered core, flagship and major.
- Maine Technology InstitutecoreMaine Angels works very closely with Maine Technology Institute, one of the state's venture funding agencies, to help fund promising startups in Maine.
- Maine Venture FundcoreMaine Angels collaborates with Maine Venture Fund, the state's venture funding agency, to support early stage companies in Maine.
- CEI VenturescoreMaine Angels works closely with CEI Ventures, a private organization, to help fund promising Maine startups. CEI Ventures manages socially responsible venture capital funds.
- Angel Capital AssociationflagshipMaine Angels is part of the national Angel Capital Association and works in syndication with New England angel groups. Maine Angels stands with the ACA statement against racism.
- eCoast AngelscoreMaine Angels works in syndication with eCoast Angels as part of the New England angel group network.
- Golden Seeds LLCcoreMaine Angels works in syndication with Golden Seeds LLC as part of the New England angel group network.
- HubAngelscoreMaine Angels works in syndication with HubAngels as part of the New England angel group network.
- LaunchPad Venture GroupcoreMaine Angels works in syndication with LaunchPad Venture Group as part of the New England angel group network.
- TiE AngelscoreMaine Angels works in syndication with TiE Angels as part of the New England angel group network.
- Northern New England Women's Investor Network (NNEWIN)majorMaine Angels collaborates with NNEWIN, a women's investor network, to foster female participation in investment and support women-led startups.
- Propeller (CEI Women's Business Center)majorMaine Angels collaborates with Propeller, a tech incubator for female entrepreneurs launched by CEI Women's Business Center, to support women founders.
- DealumcoreDealum is the angel industry standard investment management platform used by Maine Angels for deal management, membership applications, and entrepreneur submissions.
Scale indicators5 records
Recent moves6 records
Expansion highlights6 records
Maine Angels competitors and assessment
Company assessmentBroad incumbents
- Angel Capital Association: National trade association of angel investors of which Maine Angels is a member. Comparable angel-investing ecosystem focus but operating as an industry body rather than a deployer of capital.
Direct peers
- LaunchPad Venture Group: Boston-area angel investor network that syndicates with Maine Angels. Directly comparable member-led angel investing model serving early-stage New England companies.
- Golden Seeds: National angel network focused on women-led companies; explicitly listed as a Maine Angels syndication partner. Highly comparable member-based angel investing model with a similar deal-flow and due-diligence structure.
- TiE Angels: Angel investing arm of TiE, a global entrepreneur network that syndicates with Maine Angels. Highly comparable member-led angel model with structured deal screening and due diligence.
- eCoast Angels: New Hampshire-based angel network that co-invests with Maine Angels. Closely comparable regional angel group serving early-stage entrepreneurs in northern New England.
- HubAngels: Massachusetts-based angel network listed as a Maine Angels syndication partner. Comparable member-based angel investing model targeting New England early-stage deals.
Regional players
- Maine Technology Institute: State technology-focused funding agency that co-invests with Maine Angels. Comparable early-stage capital provider serving Maine-based technology and life sciences startups.
- Maine Venture Fund: State-backed venture fund providing early-stage capital to Maine companies. Directly comparable target market and investment thesis, with a state-mandated rather than member-driven capital base.
- CEI Ventures: Maine-based socially responsible venture capital fund and core Maine Angels partner. Closely comparable regional early-stage investor with overlapping deal pipeline and similar inclusive-economy thesis.
Emerging players
- NNEWIN (Northern New England Women's Investor Network): Regional women's investor network collaborating with Maine Angels to support women-led startups. Comparable angel-style investor network with overlapping inclusion mandate and northern New England focus.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Maine Angels social profiles
Digital presenceMaine Angels financial estimates
Financial estimateRevenue estimate
Valuation estimate
Maine Angels leadership team
Management profileNumber of profiles
Profiles3 records
Maine Angels subsidiaries and ownership
Company hierarchySubsidiaries6 records
Maine Angels funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Maine Angels M&A and investment
M&A and investmentM&A
Investments137 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Maine Angels
What does Maine Angels do?
Maine Angels is a nonprofit angel investor network of over 90 accredited individual investors that invests in and mentors early-stage companies in Maine and New England. The organization sources deals through the Dealum platform, screens applications via a Screening Committee, hosts monthly Member Meetings where 2-3 selected companies (about 20% of applicants) present, and individual members make their own investment decisions. The Dirigo Angel Fund III sidecar vehicle co-invests alongside members to expand access for passive investors.
Is Maine Angels a public or private company?
Maine Angels is a private company. It is classified as nonprofit foundation owned and is currently operating.
When was Maine Angels founded?
Maine Angels was founded in 2003. It employs 51 to 100 people.
Where is Maine Angels based?
Maine Angels is headquartered in Portland, United States, in the North America region.
How does Maine Angels make money?
Two revenue lines are on record. Membership Dues are the primary driver. The others are investment Returns.
Who are Maine Angels's main competitors?
Angel Capital Association is listed as a broad incumbent. Direct peers are LaunchPad Venture Group, Golden Seeds, TiE Angels, eCoast Angels and HubAngels. Regional players are Maine Technology Institute, Maine Venture Fund and CEI Ventures. NNEWIN (Northern New England Women's Investor Network) is listed as an emerging player.
Does Maine Angels have an API?
No public API is recorded for Maine Angels.
What industry is Maine Angels in?
Maine Angels's product category is Angel Investment Network. Its primary akta.pro industry code is FSANAAAI, Micro-VC & Angel Funds. Its NAICS code is 52394 and its SIC code is 6282.