Published: Jul 30, 2019
Focus:
NPIF Maven Equity Finance
NPIF Maven Equity Finance has invested a total of £25 million, supporting 40 SMEs and helping create over 200 new jobs since launching in February 2017. An additional £20 million has been raised through private sector funding.
Maven was appointed by the British Business Bank in February 2017 to manage £57.5 million worth of equity finance for the Northern Powerhouse Investment Fund with a focus on investing in the North West.
The fund provides investment capital to support the growth of innovative and ambitious businesses across a wide range of sectors and in a variety of funding scenarios. Maven works with 5 Local Enterprise Partnerships (LEPs) in the North West, as well as local accountants and banks to identify innovative and high-growth companies in which to invest.
“We are delighted that NPIF – Maven Equity Finance has reached such a significant milestone. The fund’s positive impact on businesses in the North of England is already evident, fuelling the growth of ambitious SMEs across a wide range of industries, and supporting a significant number of jobs.”
Alex Rothwell, Investment Manager at Maven
“NPIF continues to provide vital funding to Northern businesses across the region. We are pleased to continue this support, and are proud to work in partnership with Maven and our other appointed fund managers to make a real impact on business communities, creating jobs and strengthening regional economies to unlock the North’s potential.”
Sue Barnard, Senior Manager at British Business Bank
