Our local team in the North East has invested £15 million and successfully leveraged an additional £17.5 million in private sector finance in 2022 celebrating a record year since opening offices in the region in 2017. The funding supported 18 dynamic, high growth businesses, completing over £30 million of deals. The core sectors that received investment were Technology, Manufacturing, Support Services, DeepTech, and Green Energy.
Maven backed many exciting businesses, including a multi-million pound investment in to Pragmatic Semiconductor, which has developed and commercialised world-leading technology. The funding will be used to support UK-based semiconductor manufacturing at Pragmatic’s new 15-acre Pragmatic Park site in Durham.
The team also invested in high growth technology businesses, including employee voice specialist HiveHR and real time data provider Diffusion Data, as well as more established businesses, including market-leading training and recruitment services provider Castle View Training and Newton Aycliffe based manufacturer Roman Showers.
We also helped businesses relocate to the region, supporting AI powered technology platform, RevLifter, to move part of its business to the Catalyst in Newcastle, as well as supporting sustainable thermoformed packaging manufacturer, iPac Innovations, with funding to open a new manufacturing facility in Durham following major contract wins.
Our local team also completed a highly successful exit from Intelligence Fusion, a threat intelligence data and software provider based in County Durham. The business was acquired in August by US private equity backed Sigma 7.
Over the last five years, Maven’s North East team has made a significant and lasting impact on the regional economy, backing over 40 local companies, and creating and safeguarding over 1,250 jobs.
Our local team is now recruiting in the region following a busy year and current vacancies can be viewed here.
“The North East continues to be a region full of opportunity for venture capital investment and the depth of talent and level of innovation across the region is truly inspiring. We are committed to the region and are currently advertising for two full time investment roles to join our North East office as we look forward to expanding our regional business and backing more exciting companies in 2023 and beyond.”
Michael Vassallo, Investment Director at Maven