Maven Capital acquires EIS specialist

Mattioli Woods’ asset management subsidiary Maven Capital has made an acquisition to expand its activities into direct Enterprise Investment Scheme investment.

London-based Newable Ventures was part of Newable Capital Group, which invests in well-established UK SMEs. Its Ventures business is an EIS-focused fund management company with £12m of assets under management.

Mattioli Woods bought Maven in 2021 in a £100m deal. Maven said it had been looking to add an EIS capability “for some time” and announcements in last week’s Autumn Statement bolstered that approach.

This deal means Maven can provide emerging businesses with an additional way to access venture capital, and a new avenue for investors to invest tax-efficiently in smaller UK companies with high growth potential.

Bill Nixon, managing partner of Maven said: “The acquisition of Newable Ventures is an important step forward in completing our objective of providing a full suite of best-in-class client products, which offer access to fast growing private company investments, often on a tax assisted basis.

“The recent announcement in the Government’s Autumn budget statement that the EIS and Venture Capital Trust schemes will be extended through till at least 2035 ensures that these products will remain at the forefront of financial planning and portfolio diversification for investors.”

The value of the deal has not been disclosed.