August 2, 2016 — Coastal Ventures Limited Partnership (CVLP), the first socially responsible venture capital fund launched by Coastal Enterprises, Inc. (CEI) in 1996, announces the sale of one of its earliest venture capital investments, Coast of Maine Organic Products. CVLP invested a total of $260,000 in the company, which provided an attractive return of over 10% and realized profits for the full fund and its limited partners. Coast of Maine Organic Products, which makes and markets organic compost created, in part, with shellfish waste, has grown to over 20 employees making organic compost in Marion Township, Maine.

“Nat Henshaw, CVLP and the whole Coastal family have been a huge help to us over the past 20 years. In addition to the initial equity provided, they have proven a very reliable partner. Their patience, encouragement and foresight has allowed us to develop into a dominant player in the organic lawn and garden space in the Northeast.” –Carlos Quijano, President, Coast of Maine Organic Products, Inc.

New private equity backing is allowing the company to grow substantially, under the leadership of founder Carlos Quijano and his family.

“This investment exemplifies Coastal Ventures initial vision: create and back companies that produce socially responsible products and services, that create opportunities for people with low incomes and that promote progressive management practices,” said Nathaniel Henshaw, President, CVI.

The exit marks an important milestone for the CVLP fund. Coast of Maine was the second of 20 total investments made throughout the life of the fund.  Ultimately, CVLP’s investments in high growth companies have helped create nearly 900 net new jobs between the time of investment and exit. Furthermore, CVLP’s portfolio companies averaged 60% low to moderate income employment while a range of new products were developed including a tuberculosis test for the developing world; software used in the majority of modern photocopiers; and air pollution control equipment for utilities.  While the fund has made and realized many successful investments, both socially and financially, the Coast of Maine investment ensured the profitability of CVLP. “They put us over the top,” said Henshaw added.

About CEI Ventures, Inc.
CEI Ventures, Inc., a wholly-owned subsidiary of Coastal Enterprises, Inc. (CEI) manages socially responsible venture capital funds. The company was founded in 1994 to mobilize private capital markets while advancing social goals. We accept investments from accredited individuals, foundations, banks and other organizations that are looking for socially responsible ways to invest their money in growing, entrepreneurial businesses and have thoroughly read the any offering document currently in effect. Find out more at www.ceiventures.com.

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