Maven has been appointed as the equity fund manager for the new £210 million South East Investment Fund (SEIF), building on its successful track record of managing regional investment mandates on behalf of the British Business Bank.
The Fund will provide a range of funding solutions for small and medium-sized businesses, including equity investments of up to £5 million, across Buckinghamshire, Oxfordshire, Berkshire, Hampshire and the Isle of Wight, Sussex, Surrey and Kent. Its launch, alongside the forthcoming East of England Investment Fund later this month, means the British Business Bank will soon be delivering targeted finance across every UK nation and region outside London.
"Today’s launch of The South East England Investment Fund will help to stimulate economic growth throughout the region. The South East of England is home to some of the UK’s most innovative technological and scientific businesses and this fund will ensure that businesses have local access to the finance they need to grow, scale and expand."
David Hourican, Incoming Interim Chief Executive Officer of the British Business Bank
Maven is recognised for its ability to balance private and public capital across multiple funds, sectors and stages of growth to deliver meaningful business transformation.
Maven brings extensive experience supporting growing businesses through regional funding initiatives across the UK, having managed a number of Regional Funds. Through these initiatives, we have enabled ambitious SMEs to access the capital needed to accelerate growth, create jobs and deliver economic impact across the regions in which they operate.
To support the delivery of the South East Investment Fund, Maven has strengthened its presence in the region with a new office in Reigate and key appointments to its investment team. This expanded local presence will enable the team to work closely with entrepreneurs, advisers and business networks to identify and support high growth businesses across the South East.
"The South East is home to a diverse range of ambitious and innovative businesses, from university spinouts and technology companies to established SMEs with significant growth potential. However, access to funding remains a challenge for many businesses looking to scale, invest in innovation and create jobs.
We are delighted to be working alongside the British Business Bank to support the delivery of the South East Investment Fund. Through our growing presence in the region and local investment team, we look forward to backing entrepreneurs and management teams across the South East, helping them access the capital they need to achieve their growth ambitions."Luke Matthews, Partner at Maven
The opportunity in the South East of England is significant. The region is home to 17% of the UK’s university spinout businesses, second only to London, while the region received 5% of the UK’s total equity investment by value last year. The launch of the Fund will help strengthen the link between academic innovation and commercial growth, ensuring promising businesses have access to the finance needed to scale.
This supports the Government’s plan for growth in every postcode by helping businesses access finance close to home. By backing ambitious smaller businesses, the Fund aims to support innovation, create jobs and stimulate sustained economic growth in the region.
"Small businesses are the bedrock of our economy and a vital part of any high street, whether it’s a tech startup in Surrey or a creative agency in Margate. Making sure that smaller businesses have the backing they need to thrive is a crucial part of creating good growth in every postcode.
We are determined not to let access to investment be a barrier to success for businesses in the South East. The launch of this fund will help to ensure that small businesses across the region can grow to match their ambitions, whether that is bringing in new staff, moving into a new base or scaling into an international company."
Jonathan Reynolds, Business Secretary
SEIF 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 investing in new products and infrastructure, hiring a new team and filling gaps in working capital.
To apply, please click here.