Published: Dec 01, 2023
Focus: Growth Capital
Maven has completed the acquisition of Newable Ventures Limited for an undisclosed consideration from Newable Partnership, a leading provider of funding and support for UK businesses. The transaction is subject to regulatory approval and the customary closing conditions.
Newable Ventures is an EIS focused fund management company, and this strategic move will provide Maven with a new avenue for client investors to invest tax-efficiently in smaller UK companies with high growth potential, and an additional way for emerging businesses to access venture capital. The transaction also enables Maven to acquire an existing platform with EIS capability, adding a highly complementary business to its existing range of products.
Maven was acquired in 2021 by Mattioli Woods PLC and manages a wide range of market leading products for a diverse private and public sector client base, and is one of the UK’s most active SME investors.
“As part of the continuing evolution and growth of the Maven business we have been keen for some time to add an EIS capability to our client offering. The acquisition of Newable Ventures is an important step forward in completing our objective of providing a full suite of best in class client products, which offer access to fast growing private company investments, often on a tax assisted basis.
The recent announcement in the Autumn statement that the EIS and VCT schemes will be extended through until at least 2035 ensures that these products will remain at the forefront of financial planning and portfolio diversification for investors. We look forward to welcoming the NVL team to Maven in due course.”
Bill Nixon, Managing Partner at Maven
"This collaboration with Maven Capital Partners aligns with our vision to empower the UK’s SMEs and startups. We are excited about the new opportunities this partnership will bring to our investors and the companies we support."
Chris Manson, CEO at Newable Ventures