Published: Jul 17, 2023
Focus:
SWIF Maven Equity Finance
The Maven team has been transacting a wide range of investments for more than 20 years, and in recent years we have significantly expanded our established regional network to support increasing investment opportunities and new regional client funds. This ensures that our team is embedded in the local business community and offers full coverage of the UK corporate finance market.
Since we opened our Bristol office in 2017, our presence in the South West has grown significantly. The region offers one of the UK’s most vibrant business landscapes and is home to some of the country’s most innovative business, operating across a rich mix of high growth sectors including technology, advanced manufacturing, renewable energy and healthcare.
However, even exceptional businesses can become capital constrained and raising finance can be a challenge, whatever their size and place in their growth lifecycle. Maven spotted an opportunity to establish a base in Bristol to build trusted local relationships with ambitious management teams and advisors, enabling our team to provide a potential source of private capital for businesses looking to scale.
Our South West team, which is headed up by Melanie Goward, is now one of the most active Private Equity investors in the region and is set to move to larger premises to reflect that growth.
“We know from many years’ experience that Private Equity investment is a shared journey, where results are optimised when there is alignment in interests and all parties have a common vision for driving the business forward. At Maven we have built an extensive network of offices which enables us to develop a strong local profile and market knowledge, whilst allowing us to maintain effective working relationships with the management teams we back.”
Melanie Goward, Partner at Maven
The South West has undergone a significant transformation over the past decade, building a reputation as a home of science, media and innovation. According to research undertaken by EY, the region is firmly on track to become one of the UK’s top regions for economic growth.
“We are fortunate to have so many ambitious and innovative businesses based in our region, developing next generation products and services across a range of fast growing sectors. Despite the macro-economic challenges, many South West companies have demonstrated a remarkable resilience and adaptability in recent years, and have their sights set on growth, both in the UK and internationally.”
Luke Matthews, Partner at Maven
The newly launched South West Investment Fund aims to harness and nurture that growth potential. Set up by the British Business Bank, the £200 million fund can invest in small and medium-sized businesses across areas such as Bristol, Cornwall, Devon, Dorset, Gloucestershire, Somerset and Wiltshire. Maven have been appointed as one of two managers for the equity element of the fund and can provide investment of up to £5 million in growth focused businesses. The new mandate now means that Maven manages a diverse range of regional growth funds across the UK, able to back emerging businesses spanning from Cumbria to Cornwall.
Our growing presence and commitment to investing in businesses across the region was recently recognised with a number of nominations at Insider’s South West Dealmakers Awards 2023. Maven was shortlisted for Private Equity/Venture Capital Firm of the Year and Small Deal of the Year (sub £10m) for the £3 million Maven VCT/Growth Capital investment in Bud Systems. Alongside these two nominations, Luke Matthews, who was recently promoted from Investment Director to Partner and played a key role in establishing Maven as one of the key PE firms in the region, was nominated for Dealmaker of the Year, a testament to his contributions in deal origination and execution. Luke personally sourced and led six growth capital transactions in recent times in Bud Systems, Cardinality, CYSIAM, Horizon Technologies, M2030 and Nano Interactive.
Looking ahead, Maven is aiming to continue strengthening its regional presence and capitalise on the emerging opportunities across the region by expanding our South West investment team. This reflects our commitment to deepening engagement with the South West's corporate finance community and providing the right level of support for businesses who want to grow further and faster.
SWIF-Maven Equity Finance is now open for applications from eligible businesses. The fund is aimed at growth focused companies and can support a wide range of business finance needs including, purchasing new machinery, capital expenditure, export finance, investing in new products, hiring a new team and filling gaps in working capital.
To apply, please visit: mavencp.com/swif
