As one of the most active and best resourced Venture Capital Trust (VCT) managers in the industry, Maven has provided VCT funding to SMEs since 2009 and plays a vital role in building dynamic businesses across the UK
A VCT is an investment company whose shares are listed and traded on the London Stock Exchange. VCTs focus on investing in smaller companies whilst offering a range of tax benefits to attract private investor capital to invest in early stage, entrepreneurial businesses to support their growth ambitions.
Investors can claim 30% income tax relief on the amount subscribed up to £200,000 in new VCT shares in a tax year, provided that the shares are held for at least five years. As well as benefitting from tax-free dividends and capital distributions from a VCT, there is also no capital gains tax liability on the proceeds of sale of VCT shares. The tax incentives for VCTs can provide an attractive and highly tax efficient income stream for investors building an income-focused portfolio or retirement strategy.
VCTs have some £3.5 billion of assets under management and provide a significant amount of support and funding for UK SMEs. Recent research from HMRC revealed that the rate of job creation within VCT backed companies increases over time and the benefit of VCT backing is also clear in terms of generating earnings and sales growth. On average, each £1 million of investment has supported an increase in turnover of £2.9 million.
Maven has supported Martel in investments ranging from infrastructure to new product development and continues to participate actively in the development of the company's brand.
Keith Walker, Martel InstrumentsAbout the Manager – Maven
Maven manages six generalist VCTs, on behalf of around 12,000 shareholders. Each VCT offers investors access to a diversified portfolio of established UK private businesses.
With over 200 years’ combined experience of investing in high-growth private companies, Maven is one of the most active and best resourced VCT managers in the industry with a nationwide investment and portfolio team operating from ten offices across the country. The team includes senior executives from a variety of professional, commercial and industry backgrounds, who understand the commitment and disciplines needed to build a successful business.
Locally, the Maven team has invested in Durhambased Martel Instruments, a manufacturer of compact printer and LCD modules. As one of the leading UK manufacturers, the business supplies products to a global customer base across a range of industries including automotive, medical, transport and retail.
Keith Walker, Managing Director of Martel, said, “Maven has supported Martel in investments ranging from infrastructure to new product development and continues to participate actively in the development of the company’s brand.”
In December 2016, Maven invested £1.1 million of VCT funding in Durham-based Fintech firm, Growth Capital Ventures (GCV), a developer and operator of specialist online investment and alternative finance platforms. Funding will enable GCV to launch a new P2P lending platform, develop its existing online platforms and grow its team to service its expanding investor base.
Norman Peterson, CEO and Co-Founder of GCV, said “We’re delighted that Maven has invested into GCV to support our next stage of growth.
“Maven’s investment allowed us to recruit a highly skilled team to enhance GrowthFunders, our coinvestment platform, as well as developing a debt platform which will enable GCV to bring new products to market. This will support savers with attractive rates to finance projects that deliver growth and impact.”
The opportunity for North East businesses With an experienced North East team, operating from new offices in Durham and Newcastle, and a strong investment history across the North of England, Maven is well-resourced to provide the necessary support to local companies, both in terms of the initial investment process and the ongoing support as those businesses grow.
Our local team is actively seeking exciting businesses, based in the region, looking for the right funding to help achieve their growth plans.
