Chesapeake Bay Seed Capital Fund

Overview

An early-stage investment fund supporting startups developing technologies to restore the Chesapeake Bay. The fund invests in companies that reduce nitrogen, phosphorus, and sediment in the Chesapeake Bay and its tributaries, mitigate climate change impacts, utilize natural filters, and provide climate adaptation or resilience benefits. Investment types include preferred equity, convertible debt, SAFE notes, and profit-share agreements, with initial investments up to $150,000 and follow-on investments up to $300,000. Companies must demonstrate a positive impact on the Chesapeake Bay, have at least 50% of full-time employees in Maryland, and show potential for market returns. Applications are accepted on a rolling basis. Industries of interest include batteries/fuel cells, agritech, aquatech, renewable energy, electric vehicles, stormwater solutions, air emissions, and natural filters. The fund is looking for companies that have a product prototype, can demonstrate product-market fit, have a thoughtful commercialization plan, and can demonstrate a quantifiable reduction in nitrogen, phosphorus, and/or sediment in the Chesapeake Bay as a result of their solution. Applications are accepted on a rolling basis. The Chesapeake Bay Seed Capital Fund is a partnership between the Maryland Department of Natural Resources and the University of Maryland's Mtech Ventures. The fund has invested in companies such as Neighborhood Sun, N5 Sensors, Datakwip, Dynamhex, PaverGuide, Aqualith Advanced Materials, Manta Biofuel, and Advanced Bionutrition. The fund is managed by Scott Christensen, Manager of Mtech Ventures & Chesapeake Bay Seed Capital Fund, and Sarah Lane, Innovative Technology Coordinator at the Maryland Department of Natural Resources.

Investment Focus

• Product prototype
• Demonstrated product-market fit
• Thoughtful commercialization plan
• Quantifiable reduction in nitrogen, phosphorus, and/or sediment in the Chesapeake Bay

Portfolio Companies