Maven gets bonus return after US deal to buy security tech

A Silicon Valley deal between two cybersecurity businesses has delivered a payday for venture investor Maven and the Northern Powerhouse Investment Fund, its fourth successful exit in the North West.

Delinea, a San Francisco-based leader in Privileged Access Management (PAM), acquired FastPath Solutions, which in turn had bought a Manchester-based cyber business Ideiio, which Maven had invested £2 million into from NPIF-Maven Equity Finance for it to expand into the US market. 

Karen de Meza, Portfolio Director at Maven said, “The recent acquisition of FastPath by Delinea represents a full exit for NPIF-Maven Equity Finance from its investment in Ideiio, and highlights the significant returns that can be generated from these ventures—which are ultimately funded by taxpayers money. This deal not only enhances Delinea’s product capabilities but also demonstrates the significant impact of targeted investment in fostering innovation and growth in the technology sector. It also underscores the value of early-stage equity investments by an experienced investor like Maven, showcasing the potential of northern teams like Ideiio in developing market-leading cybersecurity solutions.”

This exit represents Maven’s fourth successful exit in the North West this year, following exits from two rapidly growing technology companies, AppLearn and Membr, through sales to prominent US-based firms, and the sale of The 55 Group to LDC.

The transaction marks another milestone in Maven’s track record of identifying and nurturing high-potential businesses, demonstrating the strength of its investment approach and the opportunity in the UK’s private equity sector to drive innovation and growth.

Debbie Sorby, Senior Manager, British Business Bank, said: “The Northern Powerhouse Investment Fund’s support has provided the foundations for Ideiio to supercharge its development journey to become a world-leading cyber security provider. The business is an excellent example of how NPIF investment for the right business at the right time can be the catalyst for worldwide expansion and success.”