Whit Richardson | TECH.CO
STARC Systems, a five-year-old company in Brunswick, Maine, that sells innovative containment systems for the construction industry, has received a $3.4 million investment led by Blue Heron Capital.
Blue Heron has a “growth-equity” investment fund that focuses on the healthcare and tech-enabled business services industries. The total $3.4 million was provided by Blue Heron Capital’s fund and a related entity, according to the Finance Authority of Maine.
The Finance Authority of Maine also received details of the investment because Blue Heron applied to receive nearly $1.7 million in refundable tax credits (50 percent of the total investment) through the state’s Seed Capital Tax Credit program.
Blue Heron Capital is no stranger to Maine. While it’s based in Richmond, Va., one of its partners, Sam Sezak, lives in Portland. According to Sezak, this is the firm’s first investment in a Maine-based business.