Abierto Networks gets $100K in VC funds
The Maine-based Small Enterprise Growth Fund, which leverages state funds to attract venture capital matches, has invested $100,000 in the Eliot-based digital marketing firm Abierto Networks.
According to a press release, the venture capital fund purchased $100,000 in convertible debt from the company as part of a larger round of financing, citing the company's potential for sales and job growth.
The company currently employs seven people and plans to expand in 2013, according to the release. It provides integration of digital services, specializing in payment and digital marketing platforms for convenience stores and gas stations.
The SEGF was started by the Maine Legislature in 1995 and has been investing in Maine companies since 1997, using $13 million in capital contributions from the state. The fund reports that every $1 of its investments has attracted more than $9 from individuals and other venture funds.
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