Maven Equity Finance has passed the milestone of investing over £70 million in 74 dynamic, high growth businesses since the Fund launched in 2017.
Managed by Maven Capital Partners (“Maven”), and part of the Northern Powerhouse Investment Fund (NPIF), in addition to direct investments, NPIF Maven has also successfully leveraged an additional £145 million in private sector finance for companies, creating over 1,300 new jobs across the North of England.
Alongside investments, Maven has delivered a number of profitable exits for the Fund including Ideiio, an SaaS cyber security business which was acquired by Fastpath Solutions LLC, the leading provider of access control solutions for business applications, and ITS Technology Group, a leading provider of next-generation full fibre networks.
Appointed by the British Business Bank in February 2017, Maven manages £106 million worth of equity finance for the Northern Powerhouse Investment Fund. Working with the Local Enterprise Partnerships (LEPs) and Combined Authorities in the North West, NPIF – Maven Equity Finance can support a variety of businesses across a range of sectors from digital and technology to life sciences, and business and professional services to healthcare.
Ryan Bevington, investment partner of Maven Capital Partners, said: “Maven has a long-term presence across the North West and we now have one of the largest investment teams in the region. Celebrating this milestone is a testament to the appetite for investment here and demonstrates the opportunities for businesses and the level of innovation in the North West. 2022 was another really busy year for us and we are proud to have backed so many ambitious, growth focused companies. We are determined to keep up this investment rate in 2023 and would welcome the opportunity to speak to any businesses which feel they would benefit from growth funding.”
Keira Shepperson, director at British Business Bank, said: “This is a significant milestone and it is evident that many businesses across a host of industries have been able to reach new heights as a result of securing access to finance from Maven. Funding can be a transformational tool for businesses and Maven has been a key player in making these changes happen for highly ambitious companies.”
The Northern Powerhouse Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.
It covers the Tees Valley Combined Authority, Greater Manchester, Cheshire and Warrington, Cumbria, Liverpool City Region, Lancashire, Humber, Leeds City Region, Sheffield City Region, York, North Yorkshire and East Riding areas.
