PE house Maven steps up support for Liverpool firms with new city centre office

Paul Leyland

Private equity house Maven Capital Partners has opened an office in Liverpool’s central business district.

It has moved into Avenue HQ St Paul’s Square. The local investment team, led by Paul Leyland, has previously funded 12 local businesses to date, investing more than £8.5m into the region.

Investments into local businesses made by the NPIF-Maven Equity Finance fund include RedWigWam, which has developed a SaaS recruiting platform that connects flexible workers to employers.

Founded four years ago by serial entrepreneur Lorna Davidson, who previously founded and profitably exited Tactical Solutions, the business uses AI-powered algorithms to match workers with employers’ short-term or ad-hoc opportunities.

The firm sees 98% of posts filled within four hours, allowing it to meet fluctuating staffing requirements. The NPIF investment has enabled RedWigWam to expand marketing and PR activities, grow its team and further develop its innovative platform.

Paul Leyland, investment manager for the Liverpool City Region on behalf of NPIF Maven Equity Finance, said: “Having delivered 12 growth capital investments into the Liverpool City Region over the last four years and seen an increased amount of deal activity, it is clear that establishing a presence here was a logical next step and it demonstrates our commitment to the area.

“Liverpool has a vast community of owner-managed businesses supported by outstanding professional advisers, however, a very small number of equity providers are based here. Establishing a presence in Liverpool will help unlock significant investment into the region.”

International chemical technology business, Liverpool ChiroChem (LCC), also received backing from NPIF-Maven Equity Finance. Since it was founded in 2014, LCC has produced products that support global pharmaceutical companies during the drug discovery process.

The NPIF investment is supporting the business as it grows its UK operations and will help provide the capacity required to deliver new projects with other world leading specialists in the pharmaceutical sector.

Welcoming the Liverpool City Region office opening, Mark Basnett, MD of Growth Platform, said: “Having Maven move into the city region is great news. By helping innovative and ambitious companies grow and invest the Northern Powerhouse Investment Fund has had a fantastic impact on unlocking business potential and creating jobs in the city region.

“Having a dedicated office here now means our local businesses will have the necessary help, both in terms of the initial investment process and the ongoing support they need to be able to sustain and grow.”

Sean Hutchinson, at British Business Bank, said: “The Maven team has played a key role in success of the Northern Powerhouse Investment Fund since its launch in 2017, making a significant impact with businesses of all sizes through NPIF-Maven Equity Finance. We’ve seen many examples of this in action across Liverpool City Region and congratulate the team on opening this new office.”

Appointed by the British Business Bank in February 2017, Maven manages £96m-worth of equity finance for the Northern Powerhouse Investment Fund, working with the Local Enterprise Partnerships (LEPs) and Combined Authorities in the North West.