Maven leads on technology deal
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THE Manchester office of Maven Capital Partners has announced its £2m investment in Yorkshire technology firm Documetric.
The deal has been done under the Capital for Enterprise Fund (CFE Fund) for which Maven Capital is a joint manager.
The £75m fund is a Government backed initiative launched earlier this year to help SMEs gain access to the financial support required to bridge the funding gap caused by the credit crunch.
The investment in Documetric will support its growth and development plans as an innovative technology-led business process outsourcer (BPO) delivering payment processing, transactional and managed services in secure data management applications, finance and administration.
Andrew Craig, partner at Maven, said: “Documetric is a high quality BPO with an impressive blue chip client base.
Maven Capital was formed in June following the management buyout of Aberdeen Asset Managers’ private equity arm.
It will retain the previous focus on the lower mid-market private equity market, managing around £160m of capital.
The Manchester offices of DLA Piper and Armstrong Craven also acted on the deal.
