News
Uche Osuji, Managing Director at Arctaris Impact Investors, Joins CEI Ventures’ Board Of Directors
May 24, 2021 (Brunswick, ME)–CEI Ventures, Inc., the Brunswick, Maine-based impact venture capital firm, announced the addition of a new Board Member, Uche Osuji. Osuji is a Managing Director at Arctaris Impact Investors, LLC, a privately held investment firm that invests in growth oriented operating businesses and infrastructure projects located in underserved communities.
CEI Supports Maine Companies with Knowledge Share of New U.S. Aquaculture and Seafood Market Data
April 20, 2021 (Brunswick, ME) –Coastal Enterprises, Inc. (CEI) announced that it has acquired and is sharing competitive national seafood industry sales information with Maine’s aquaculture and seafood businesses. The syndicated broadline sales data for key Maine species identifies regional and metropolitan markets in the U.S., taking the guesswork out of where Maine businesses have the best prospects for expanding sales. CEI purchased the data as part of its Maine Seafood Marketing Initiative, a pilot effort to establish a state seafood marketing association promoting all of Maine’s seafood products. The data will be made available upon request to Maine businesses free of charge.
Madison Park Development Corporation, Bright Community Capital, and Resonant Energy Partner with Roxbury, MA, Residents to Expand Low-Cost Renewable Energy
APRIL 14, 2021 – ROXBURY, MA – As of February 1st, 2021, a unique portfolio of 17 rooftop solar installations totaling 580 kW is now providing a steady stream of low-cost, renewable energy to 430 households in Roxbury, Massachusetts, providing nearly a million dollars in estimated utility cost savings to buildings serving older adults and families with low incomes. Collectively, the panels will produce 16,185,625 kWh over the next 25 years, reducing greenhouse gas emissions by 11,470 metric tons.
$1.49 Million Maine New Markets Capital Investment from CEI Capital Management Supports Rangeley Community in Reviving Saddleback Mountain Ski Resort, Creating Jobs and Expanding Economic Activity
April 13, 2020 (Brunswick, ME)—CEI Capital Management LLC announced its $1.49 million Maine New Markets Capital Investment Tax Credit financing to support the ongoing revitalization of Saddleback Mountain Ski Resort (Saddleback) a four-season resort and leading northeastern travel destination in Rangeley, Maine. The tax credit investment will be managed by Arctaris Impact Investors (Arctaris), a Boston-based firm.
Woodforest CEI-Boulos Opportunity Fund Recognized in BAI Global Innovation Awards for Societal & Community Impact
March 19, 2021 — Coastal Enterprises, Inc. (CEI) is proud to announce that the Woodforest CEI-Boulos Opportunity Fund recently won the 2020 BAI Global Innovation Award in the Societal and Community Impact Innovation category. CEI is a joint venture partner in CEI-Boulos Capital Management, the fund’s manager. The BAI Global Innovation Awards recognize financial services organizations that have “gone beyond the conventional to bring creative ideas to life, especially during a time of unprecedented change.” The Woodforest CEI-Boulos Opportunity Fund invests in high impact commercial real estate projects across Woodforest National Bank’s 17 state footprint. The fund’s investments will help create 1,800+ new jobs. The fund was selected from hundreds of nominations for the award program – the finalists for which represent some of the most “distinctive, impactful solutions in the global financial services industry.”
Woodforest National Bank Wins Global Innovation Award for Woodforest CEI-Boulos Opportunity Fund
THE WOODLANDS, Texas, March 4, 2021 — Woodforest National Bank® (Woodforest) recently won the 2020 BAI Global Innovation Award in the Societal & Community Impact Innovation category for its Woodforest CEI-Boulos Opportunity Fund, which invests in high-impact commercial real estate projects in Opportunity Zones with the goal of benefitting economically distressed communities across the bank’s 17-state footprint.
CEI Ventures, Inc. Announces Initial Closing of Coastal Ventures V LP, the Good Jobs Fund, at $14.85 Million
March 10, 2021 (Brunswick, ME) – CEI Ventures, Inc. finalized the initial closing of its fifth fund on March 1, 2021 with a capital raise of $14.85 million from 32 accredited investors. A subsidiary of Coastal Enterprises, Inc. (CEI), a non-profit community development financial institution (CDFI) and innovative leader in rural business development, CEI Ventures is one of the only venture capital firms in the U.S. with a mission focus and proven strategy to help create good jobs. Since 1996, including last week’s closing, CEI Ventures has raised over $60 million and invested in 64 companies across five funds, helping to create 2,700 new jobs in geographic regions and with demographic populations often overlooked by traditional venture capital investors.
CEI Welcomes New Colleagues to its Board of Directors and Staff Teams
Brunswick, ME — February 25, 2021— Coastal Enterprises, Inc. (CEI) announces the appointment of two new members, Jeanette Andre and Devin Cook, to its board of directors, and the addition of three new staff members, Azenaide Pedro, Linnea Patterson and Peter Piconi, to its team.
CEI Partners with Six Businesses for 2021 Maine Tastemakers Initiative
Nichole and Leon Sargent, Owners of Southpaw Packing dba Windham Butcher Shop. Photo: Coastal Enterprises, Inc. February 23, 2021 (Brunswick, ME) – Coastal Enterprises, Inc. (CEI) today announced the names of the six Maine food companies selected for the 2021 Tastemakers Initiative: Bristol Seafood in Portland, Luke’s Lobster in Saco & Portland, Good to Go in Kittery, Maine Crisp Company in Winslow, Ocean’s Balance in Biddeford and Southpaw Packing dba Windham Butcher Shop in Windham. The selected companies will receive specialized consulting and investor networking opportunities. This is the fourth year of the Tastemakers Initiative, part of an ongoing partnership between CEI and FocusMaine to support the growth of Maine’s food economy.