Maven celebrates milestone, supporting 74 firms across Northern Powerhouse region

Maven's equity finance team

NPIF-Maven Equity Finance has leveraged twice as much as its investments and helped create more than 1,300 jobs, it revealed today.

The organisation, managed by Maven Capital Partners and part of the Northern Powerhouse Investment Fund (NPIF) has invested more than £70m in 74 dynamic, high growth businesses across the North since the fund’s launch in 2017.

In addition to direct investments, NPIF-Maven has also successfully leveraged an additional £145m in private sector finance for companies, creating in excess of 1,300 new jobs.

Maven has backed a number of exciting businesses, including Fintech platform Yimba, that has developed digital wallet technology that allows banks to deliver personalised banking services to their consumers via mobile banking and payment wallet integrations. The funding enabled the business to expand its team to service a growing number of customers and create a number of jobs at its sites in Chester and London.

The local North West team also invested in several high growth technology businesses including data quality, migration and transformation service provider Intelligent Delivery Solutions, technology platform for data curation, Nivo, and contactless fundraising device company, GWD.

Alongside investments, Maven has delivered a number of profitable exits for the Fund including Ideiio, a SaaS cyber security business which was acquired by Fastpath Solutions LLC, a provider of access control solutions for business applications, and ITS Technology Group, a provider of next-generation full fibre networks.

Appointed by the British Business Bank in February 2017, Maven manages £106m 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.”

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.”

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