Co-investor Spotlight Series 

This month we are featuring Advantage Capital. Read on to learn more about the fund and how they invest.

Advantage Capital has a national presence—can you share a little bit more about your Maine team and presence?

Advantage Capital invests in growth-ready small businesses in targeted areas of Maine through the Maine New Markets Tax Credit (NMTC) program. Our team provides flexible equity and debt financing to established and emerging Maine companies that are looking to expand, create quality jobs, and spur long-term economic growth in their communities. Our investment professionals include a Portland-based team with deep expertise in small business investing nationwide and more than a decade of measurable results in Maine.

Our investment team brings deep expertise in underwriting, structuring, and executing complex transactions, as well as a strong understanding of how to align capital with business growth and community impact. We work closely with entrepreneurs throughout the investment process with a goal that our capital supports sustainable growth. 

Does your fund have a specific focus (geography, stage, industry, type of entrepreneur, etc.)?

We are focused on supporting businesses that are committed to their communities and to creating job opportunities for people across the state. We are particularly interested in businesses located in undercapitalized areas, including Portland, Lewiston, Augusta, Waterville, and communities throughout eastern and northern Maine. 

We invest across a wide range of industries—from manufacturing and medical to technology and services—and support companies at various stages of business development. We are especially interested in companies generating $1 million or more in annual revenue that are seeking to scale their operations. 

What types of capital do you deploy (debt, equity, RBI, etc.)?

We deploy both debt and equity capital and are actively seeking investment opportunities in early-stage through mature companies across a variety of industries, including manufacturing, technology, healthcare and medical devices, hospitality, food and beverage, retail, community facilities, and service-based businesses. Our financing is structured for companies with primary operations that meet Maine’s New Markets Tax Credit (NMTC) eligibility criteria.

Have you made an investment in a Maine company? What are you most excited about in considering further investment into Maine?
To date, Advantage Capital and our partners have invested more than $70 million in Maine small businesses. We have a long track record of investing across multiple industries, including:

• JSI Store Fixtures, a manufacturing company in Milo that is now one of the largest employers in Piscataquis County.
• MedRhythms, a digital health company that is providing neuroscience-based mobility therapies to stroke survivors.
• Mobile Price Card, a technology company in Bangor that created accessible customer service jobs with on-the-job training.

We are excited to continue building on this work by connecting with new businesses that are looking to grow their footprint in Maine. The state has a strong base of innovative entrepreneurs, a skilled workforce, and community-focused businesses, and we see meaningful opportunities to support growth that strengthens local economies across both urban and rural regions.

Besides your fund parameters, what is the most important thing you evaluate in your diligence process?
Beyond fund criteria, we place significant emphasis on the strength of the management team, particularly teams with a demonstrated ability to execute. Our goal is to expand access to capital that enables entrepreneurs to hire, scale, and drive sustainable growth in their communities. Alignment with these goals—and the capacity to deliver on them—is critical in our diligence process.

If a company feels like they are a fit for Advantage Capital, what is the best way to get in touch?
Companies that believe they are a strong fit are encouraged to contact me. I am our Maine Fund Manager and oversee our Maine initiatives. I can be reached at jhenderson@advantagecap.com.

Advantage Capital Investment Adviser, LLC (“ACIA”), a wholly owned subsidiary of Advantage Capital Management Corporation (“Advantage Capital”), is an investment adviser registered under the Investment Advisers Act of 1940. Registration with the SEC does not imply a certain level of skill or training. Advantage Capital itself is not registered as an investment adviser with the SEC. Any advisory services described in documents directly or indirectly disseminated by Advantage Capital are provided exclusively by ACIA. The information contained herein is for informational purposes only and does not constitute investment advice, an offer, or a solicitation to buy or sell any security. Any offer to sell or solicitation of an offer to purchase any security or investment product will be made in compliance with applicable state and federal securities laws pursuant to a definitive confidential offering memorandum and/or similar documentation. Advantage Capital is an equal opportunity provider. 

The individual case studies represent a small sample of investments that were selected to illustrate their community impact under state and federal tax credit programs. The profitability of any single investment was not a factor in the selection process. Nothing in this document should be interpreted or construed as performance data of any kind, nor as any implication or statement that investments previously made by Advantage Capital were or are successful, or that past performance is any indication of future performance. All investments involve risk and unless otherwise stated, are not guaranteed.