Coastal Ventures III, LP
United States of America
Last updated 13 May 2020, by Impactyield.
Developed countries (203) / More developed regions (202) / More developed regions (North America, Asia & Oceania) (153) / United States of America (112)
This is CVI's 3rd socially-responsible venture capital fund. CEI Ventures has established a successful track record managing its two prior funds, Coastal Ventures Limited Partnership (“CVLP”) and Coastal Ventures II LLC (“CVII”) (collectively, the “Prior Funds”), with a total of $25.54 million in committed capital.
The Manager’s perspective is that within underserved markets are market inefficiencies which enhance the prospects for investment returns. The Fund aims to identify and capitalize on these market opportunities, and mobilize capital to help improve the socioeconomic condition of underserved people while providing its investors with attractive returns. Some companies are not targeted by other investors because of their geography, industry, stage of business development, or deal size. Other traditionally underserved groups include businesses led by ethnic minorities and women.
The Manager has successfully sourced deals in these markets for the Prior Funds, and the continuation of this approach will provide a competitive strategic advantage to the Fund. The $10 million Fund will primarily invest in companies located in the Northeast. Often staged through multiple financings, target portfolio company investments will likely range in size from $250,000 to $1 million. The Fund will be a balanced equity portfolio, diversified by geography, industry, stage of business development, and social benefit.
The Fund will seek compelling investment opportunities in underserved markets, offering the prospect of generating substantial financial returns while advancing social benefits. This investment strategy is rooted in the successful experience of the Prior Funds and by the 33 year history of CEI. The Fund will be managed as a balanced equity portfolio, diversified by geography, industry, stage of business development, and social benefits. The Manager will often seek to leverage relationships, co-investing with other venture capital funds and socially responsible investors. The Manager will add value to companies in which the Fund invests by becoming actively engaged in their businesses.
The company should have strong, capable management with the appropriate background and experience to develop and grow the business according to its plan.
Prospective portfolio companies will also be capitalizing on dynamic market opportunities. The investment must exhibit the potential for an attractive financial rate of return through a realistic valuation and a viable exit plan in a four to seven year time period.
The Fund will invest in companies demonstrating a significant competitive advantage. Companies may have a proprietary interest in its technology, intellectual property, distribution system, brand strength, market niche or other operating aspect that gives the business a distinct market advantage and protects it from encroachment.
of track record
the year funded
Headquarters location: United States of America
Other funds managed by this asset manager: Coastal Ventures Limited PartnershipCoastal Ventures II, LLC
Key performance indicators
Asset manager: CEI Ventures
Product track record: Fund has 12 years of track record
Target IRR: n.a.
Committed Capital: n.a.
Target return category: Risk-adjusted market-rate of return
Fund domicile: United States of America
Product status: Open - post first close
Style/Stage: Early Stage, Growth Stage, Late Stage
Inception year: 2011
Vintage year: 2011
Target region: Developed countries, More developed regions, More developed regions (North America, Asia & Oceania), United States of America
Target close date: 01/12/2012
Product term: 10 year term with provision for extension up to 2 years
Assets under management: 10,000,000 USD (US Dollar)
Investment size: Min: 250,000; Max: 800,000; Avg: 400,000
Currency of investments: USD (US Dollar)
Currency for fund / product figures: USD (US Dollar)
Fund investments to date: 2
Fund investments to date exited or repaid: 0
Management fee: 2.5%
Carried interest: 20%
Hurdle rate: 0%%
GIIN Investors' Council Investment: No
Limited Partners / Investors: n.a.
Limited Partner / Investor Type: Family Office, Other Institutional Investors, Retail Investors
Phone number: 207-772-5356 x2904
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We identify entrepreneurs committed to good corporate citizenship and environmental stewardship, and each new portfolio company agrees to advance our broad ranging social goals by entering into a Social Agreement, targeting jobs for low-income people. We bring our knowledge of socially responsible management practices, working together with CEI (www.ceimaine.org) to introduce workforce development specialists along with environmental, technical assistance and consulting relationships.