Published: Nov 26, 2018
With many SMEs already receiving debt funding across the East and South East Midlands, Maven’s 13-strong team has opened new offices to house expanding investment team.
Maven's Midlands operation has tripled its headcount in the last 6 months to support the growing number of SMEs securing funding across the Midlands. With four deals completed in the last month alone, Maven has moved its East Midlands operations to Castle Gate in Nottingham city centre to house its expanding investment team.
Maven has significant experience of managing regional growth funds across the UK, including on behalf of the Northern Powerhouse and Finance Durham, and since 2009 has invested over £340 million in more than 180 UK SMEs to support their growth strategies.
The new office will add to Maven’s strong presence across the Midlands making it well-resourced to provide the necessary support to local companies, both in terms of the initial investment process and the ongoing support as those businesses grow.
This move follows the announcement of Maven’s appointment of a dedicated Investment Specialist in each Local Enterprise Partnership area.
The MEIF debt funds, managed by Maven, focus on providing debt funding to growth businesses located across the Midlands. Composed of two separate lots, £50m is available for SMEs located in the West Midlands, and £40m for SMEs in the East and South-East Midlands. The funds can provide finance of between £100,000 and £1.5million.
Andrew Ferguson, Partner at Maven, said: “At Maven we understand the importance of having a local presence which is why we have offices at the heart of the main centres of UK business and transaction activity. We have built a highly skilled team with considerable in-depth knowledge of the local SME market, and a range of sector specialist knowledge, allied to the national resource of Maven’s UK business.
"The Midlands has a well-deserved reputation as being a key driver in UK economic growth and producing innovative smaller businesses and our MEIF Debt Fund team works in partnership alongside Midlands SMEs.”
The Midlands Engine Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.