SEGF names first Entrepreneur-In-Residence
The Small Enterprise Growth Fund has appointed Des FitzGerald as its first Entrepreneur-In-Residence.
According to a press release, the SEGF's board and management created the position to assist portfolio companies to evaluate and advance investment opportunities and to encourage successful high-growth potential Maine businesses. Initially FitzGerald will work with the management of a number of the fund's portfolio companies to evaluate resource requirements and identify and remove barriers to growth and success.
FitzGerald, a Harvard graduate, founded Ducktrap River Fish Farm Inc. in 1977 and led the company through 1999, when he was named CEO of ContiSea, the holding company which merged Ducktrap and Atlantic Salmon of Maine. The new company employed more than 300 workers and reported annual sales of more than $50 million before being sold to Continental Grain in 2002.
Since then FitzGerald has founded or co-founded three additional companies and served as an adjunct professor in the University of Maine's MBA program.
The SEGF is a venture capital fund that invests in Maine companies with potential for high growth and public benefit.
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