Are you a venture fund?
No, CEVG is not a fund and its partners invest their own capital in each investment.
What is CEVG’s typical investment size?
CEVG typically first invests in a company at the seed stage, which may be in the form of a convertible note or preferred stock sale. While it’s difficult to generalize, these rounds are typically between $0.5-1.5 million in total and CEVG may participate in 25-33% of such a seed round.
What’s the process?
CEVG receives a very large number of inquiries for investment. We review all submissions to assess the fit with our investment strategy and objectives. If we decide to learn more after reviewing written materials provided, we typically engage in a dialog with the founder/CEO to answer some initial questions, and then poll our partnership to determine whether there is a strong enough match to invite the team to engage in a dialog with the entire group at one of our scheduled meetings. If we decide to pursue a potential investment following that initial meeting, a CEVG member will take leadership of due diligence. Following successful due diligence, investment terms are negotiated. We often work alongside other investment groups and venture firms during both the diligence process and the negotiation of terms.
How long does the process take?
Our process from first evaluating written investment materials to a decision about making an investment could be as short as one month to up to several months depending on the stage of the deal, period needed for due diligence, and structure of the investment. We do our best to be highly responsive to entrepreneurs and meet expectations. We also aim to be forthright about our level of interest, commitment amount (once we know), and terms on which we would consider an investment.
How do you work with other investing groups?
CEVG frequently invests alongside other angel investment groups, individual investors, venture capital firms and state organizations (such as the Mass Clean Energy Center). We often take a significant role in carrying out the due diligence given our expertise in the sector.
What are your investment criteria?
How do we contact you?
General inquiries can be sent to us through the Contact Page, though we cannot guarantee that we can respond to internet inquiries. However, our partners are strongly plugged in to the clean energy startup ecosystem in New England, having helped to form and organize the Cleantech Open Northeast, the New England Clean Energy Council, and other comparable organizations. We serve on the board of and as advisors to many of these organizations in addition to serving as judges and mentors for the Massachusetts Clean Energy Center Catalyst program, MIT Clean Energy Prize, Greentown Labs’ companies, and many other organizations that support and help to fund clean energy startups, and we can be found through connecting to those and other trusted partners with whom we work.