VC  Venture Capital Fund of New England

     Office Locations:

36 Washington Street Suite 170
Wellesley, MA 02481
Phone: 781-431-8400
Fax: 781-237-6578



  • Early
  • Expansion
  • Seed



  • Energy & Clean Tech
  • Information Technology



    Founded in 1981, the Venture Capital Fund of New England (VCFNE) provides equity capital to emerging companies in the New England area. The firm's initial investment commitments average $1,000,000 and range from under $500,000 to $1.5 million, with final individual investment positions often exceeding $3 million. VCFNE has been the lead or co-lead investor in approximately three-quarters of its investments to date. VCFNE prefers New England-based companies in the early stage investment category, though it is also willing to consider, on an occasional basis, a seed or expansion stage investment, and companies located outside the Northeastern U.S.

    Investment Firm Key

       VC = Venture Capital
       PE = Private Equity
       A = Angel
       I = Incubator
       MB = Merchant Bank
       VD = Venture Debt
       FI = Family Investment Office
       FOF = Fund of Funds
       ED = Economic Development Office   
       TT = Technology Transfer Office
       CVC = Corporate Venture Capital
       SEC = Secondary Purchaser
       HF = Hedge Fund/Mutual Fund
    Venture Capital
    Seed Stage
    (includes "pre-seed," or
    concept stage)
    No Revenue
    Early StageMinimal
    Growth Stage
    (also called Mid-stage)
    Expansion Stage
    (also called Late-stage)
    $7M and greater
    Private Equity
    Lower Middle Market$10M-$249M
    Middle Market$250M-$499M
    Upper Middle Market$500M-$1B
    Large Cap>$1B

    Investment Team:

    Name   Title
    Get the complete investment team + individual email addresses for investment team partners. Get personal images, LinkedIn links, investment specialties, office locations and more with a National Database subscription.
    Carl Novotny Managing Director
    E. Jack Stewart Managing Director
    Gordon Penman Managing Director


    Portfolio companies include:

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      Cartera Commerce
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      Emo Labs
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      First Equity Card
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      LP Innovations
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      Nutfield Technology
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      Redtail Solutions
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      Saylent Technologies
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