Maven Invests £10 Million In North East Businesses, Supporting The Safeguarding Of Over 400 Jobs

Maven celebrates a remarkable milestone after opening offices in Newcastle and Durham in May 2017 to manage two major regional development funds.

Maven Capital Partners is delighted to announce that since opening offices in Newcastle and Durham in May 2017, it has invested a total of £10 million in dynamic, high growth businesses in the North East region, driving economic prosperity and safeguarding over 400 jobs.

This significant level of investment has mainly been achieved through Maven’s management of regional funds in the North East, the £20m Finance Durham Fund established by Durham County Council and the £27 million North East Development Capital Fund, supported by the European Regional Development Fund.

To date, Maven has identified and completed investments to support the growth strategies of 14 dynamic local businesses, including the largest independent engineering business in County Durham, Dyer Engineering, shipping container operator and leading self-storage provider, Parsons Containers and reverse-auction marketplace for insurance products, honcho.

In addition to the investments made on behalf of the regional funds, as one of the UK’s most active and well-resourced mid-market private equity firms in the industry, Maven has through the management of its VCT funds and private equity co-investor network, supported innovative intranet software, Oak, pioneering app designer, hedgehog lab and disruptive platform for sale and installation of boilers, Boiler Plan.

Maven, through its management of a number of regional growth funds, six income and growth venture capital trusts (VCTs) and private equity coinvestment opportunities sourced by the investor team and funded by its high net worth, family office and institutional investor network, is able to support the growth of private companies from start-up (from £250,000 investment) to scaleup (up to £5 million) as well investing up to £15 million to back highly skilled and entrepreneurial management teams to complete buy-out opportunities.

One of the UK’s fastest growing economies, the North East is home to a range of dynamic businesses with highly-skilled workforces and connectivity to global markets. Built on a proud history of innovation, the region has a diverse and thriving economy and is recognised for its strengths in a number of key industry sectors such as manufacturing, engineering, technology, science, healthcare and energy.

Michael Vassallo, Investment Director at Maven, said: “We are delighted Maven has reached such a significant milestone and that we have been able to support so many jobs across the region. Since opening office in the region less than two years ago, Maven’s positive impact on businesses in the North of England is already evident, fuelling the growth of ambitious SMEs across a wide range of industries. Our local investment team works closely with the businesses we support and reaching this key milestone demonstrates the need for this type of finance. We look forward to working with more companies to help them achieve their growth plans.”