Maven Capital Partners is opening an office in Preston following its appointment by the British Business Bank as fund manager for a new \u00a357.5m Northern Powerhouse fund.<\/p>\n
The private equity firm said that its new office is ideally suited to provide additional investment and administrative resource for Northern Powerhouse Investment Fund (NPIF) investments and the ongoing support of new portfolio companies. Maven already has a team in Manchester.<\/p>\n
Maven was appointed by the British Business Bank in February as fund manager for the new \u00a357.5m North West-focussed NPIF Maven Equity Finance Fund, part of the \u00a3400m of capital made available by the NPIF which aims to provide equity and debt finance of between \u00a350,000 and \u00a32m to regional small- and medium-sized enterprises (SMEs) across a range of sectors.<\/p>\n
The NPIF is a \u00a3400m partnership between the British Business Bank, a number of northern England local enterprise partnerships, the European Investment Bank and the European Regional Development Fund.<\/p>\n
Ryan Bevington, fund manager for NPIF Maven Equity Finance, said: “Maven is one of the North’s most active and experienced private equity fund managers, with a long track record of investing in and supporting SMEs across the region.<\/p>\n
“The team at Maven is recognised for the proactive support we provide to investee businesses in helping them achieve their growth plans, and by opening a new office in Preston we are able to be closer to the businesses we invest in. We look forward to establishing our presence further in the region and working with British Business Bank to deliver the objectives of the NPIF.”<\/p>\n
The\u00a0NPIF Maven Equity Finance\u00a0fund will provide equity funding to high-potential businesses primarily in the North West across Lancashire, Greater Manchester, the Liverpool city region, Cumbria and Cheshire and Warrington, but is also able to support SMEs in Yorkshire & Humber and Tees Valley.<\/p>\n
Grant Peggie, director of venture capital solutions at British Business Bank, added: “The British Business Bank welcomes the news that Maven is opening a new office in Preston to serve the wider Lancashire area.<\/p>\n
“Delivering on our promises to help those growing, innovative companies across Lancashire to access the equity finance they need to invest and grow relies on the ability to get boots on the ground in close proximity to the communities it serves.<\/p>\n
“This latest announcement delivers on Maven’s commitment to establishing a physical presence in Lancashire, and we are confident its launch will help us build on the strong relationships we have forged with the Lancashire LEP and the region’s businesses.”<\/p>\n
A Newton Aycliffe-based developer of online co-investment platforms has secured the backing of Maven Capital Partners.<\/span><\/p>\n Growth Capital Ventures (GCV) is a technology-led finance business whose GrowthFunders initiative allows everyday investors to put money into companies and ideas alongside venture capital funds.<\/span><\/p>\n It has secured a \u00a31.1m investment from Maven Capital Partners, which worked alongside Stockton-based Endeavour Partnership to complete the deal.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":" Maven Capital Partners is opening an office in Preston following its appointment by the British Business Bank as fund manager for a new \u00a357.5m Northern Powerhouse fund. The private equity firm said that its new office is ideally suited to provide additional investment and administrative resource for Northern Powerhouse Investment Fund (NPIF) investments and the […]<\/p>\n","protected":false},"author":1,"featured_media":3762,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18,19,31],"tags":[91,106,144],"class_list":["post-1346","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-funding","category-innovation","category-tech-sparx","tag-funding","tag-innovation","tag-preston"],"yoast_head":"\n