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North Atlantic Capital Corporation, founded in June 1986, is a venture capital firm located in Portland, Maine. Initially established to provide risk capital to companies in Maine, New Hampshire, Vermont, and Massachusetts, the firm has since evolved its investment strategy. It now focuses on established, rapidly growing technology companies across the continental United States. In 2021, North Atlantic Capital underwent a significant transformation, rebranding as North Atlantic Capital Management, a Stifel Company, following its acquisition by Stifel Financial.
The firm currently manages a fund size of $123 million and has a diverse portfolio that reflects its commitment to supporting technology-driven businesses. North Atlantic Capital has transitioned from a regional investment focus to a broader national strategy, allowing it to tap into a wider array of opportunities in the technology sector.
North Atlantic Capital specializes in structured capital investments, which encompass both debt and equity. The firm primarily targets established small businesses within the aerospace and defense sectors, emphasizing companies that are enhancing their additive manufacturing capabilities. Typical investment sizes range from $3 million to $10 million, with a preference for businesses generating between breakeven and $10 million of EBITDA.
This investment strategy allows North Atlantic Capital to support companies that are not only established but also positioned for rapid growth. The firm seeks to partner with businesses that demonstrate strong operational fundamentals and a clear path to scalability, particularly in the high-tech manufacturing space.
North Atlantic Capital's portfolio includes several notable companies:
Historically, North Atlantic Capital has made significant investments in companies such as Casella Waste Systems, which went public on NASDAQ under the ticker CWST, and Digital Turbine, Inc., which was acquired and trades under NASDAQ: APPS.
David Coit: Co-founder and Managing Director, with extensive experience in venture capital and a strong background in technology investments.
Mark Morrissette: Managing Director, known for his expertise in identifying high-potential technology companies.
Michael Nitka: Managing Director, brings a wealth of knowledge in structured capital investments.
Victor Nesi: Board Member at Stifel Financial Corp, contributing strategic insights to the firm.
Jason Gorey: Director of Investments, responsible for sourcing and managing investment opportunities.
Justin Sheehan: Vice President, focusing on portfolio management and operational support.
Tyler Walton: Chief Financial Officer, overseeing financial operations and fund management.
Barbara Williams: Office Coordinator, ensuring smooth administrative operations within the firm.
To pitch North Atlantic Capital, founders should send an email to Admin@NorthAtlanticCapital.com. It is important to include a comprehensive business plan and financial projections in the pitch deck. The firm prefers detailed information about the market opportunity and the company's competitive advantages. Response times may vary, but founders can expect to hear back within a few weeks.
In 2021, North Atlantic Capital rebranded as North Atlantic Capital Management, a Stifel Company, following its acquisition by Stifel Financial. This transition marked a significant milestone in the firm's evolution, allowing it to expand its investment strategy beyond regional focuses.
North Atlantic Capital continues to actively seek investment opportunities in the aerospace and defense sectors, maintaining its commitment to supporting established small businesses. However, no recent blog activity has been detected, indicating a stable but quiet period in terms of public announcements.
What are North Atlantic Capital's investment criteria?
North Atlantic Capital focuses on established small businesses in the aerospace and defense sectors, particularly those enhancing additive manufacturing capabilities. They typically invest between $3 million and $10 million.
How can I apply or pitch to North Atlantic Capital?
Founders can pitch to North Atlantic Capital by sending an email to Admin@NorthAtlanticCapital.com. It is advisable to include a detailed business plan and financial projections in the pitch.
What makes North Atlantic Capital different from other venture capital firms?
The firm specializes in structured capital investments, which include both debt and equity, allowing them to provide flexible financing solutions tailored to the needs of established businesses.
What is the geographic scope of North Atlantic Capital's investments?
North Atlantic Capital primarily invests in companies across the continental United States, with a strong focus on the aerospace and defense sectors.
What is North Atlantic Capital's post-investment involvement like?
The firm actively engages with its portfolio companies, providing operational support and strategic guidance to help them scale effectively.
What is the typical check size for investments?
North Atlantic Capital typically invests between $3 million and $10 million in its portfolio companies, focusing on those with breakeven to $10 million of EBITDA.
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