Maven Capital Partners has invested £10m into some of the region’s high growth businesses and has safeguarded over 400 jobs.
Maven, said to be one of the UK’s most active private equity houses, has invested the money since opening its Newcastle and Durham offices in May 2017.
This 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 £27m North East Development Capital Fund, supported by the European Regional Development Fund.
In addition to the investments made on behalf of the regional funds, Maven has supported intranet software, Oak; app designer, hedgehog lab; and disruptive platform for sale and installation of boilers, Boiler Plan.
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.”
Read more posts
MORE than 200 delegates from the region’s leading tech companies attended an inaugural conference aimed at the sector’s ‘do-ers.’ The first Built IT Right (BITR) conference was held Thursday, April…Read more
A vehicle servicing and repair firm has teamed up with Gateshead College to launch an apprenticeship programme in the North East. Halfords Autocentres is rolling out a national apprenticeship programme…Read more
North East law firm Sintons is opening its first Yorkshire office next month as part of its expansion into the region. Founded in 1896, the firm has been based on…Read more