Maven exited its investment in Horizon Ceremonies in July 2025, following its acquisition by a major UK public sector pension fund with more than £30 billion in assets under management. The transaction has delivered a strong return for the Maven VCTs and a syndicate of Investor Partners, with initial proceeds of up to 2.5x return on cost. Horizon (formerly Horizon Cremation) develops and operates purpose built crematoria across the UK, able to provide greater local choice and meet the latest environmental regulations. Horizon is embarking on an ambitious growth strategy in a sector experiencing increased demand for crematoria provision and improved facilities which are suitable to meet the cultural requirements of all communities.
Families now expect improved facilities and service, given the high costs of funerals, and Horizon aims to create a portfolio of next generation crematoria. Pleasant facilities, which are environmentally and technologically advanced, will offer loved ones a more welcoming environment and improved levels of care. Construction is underway on its first facility, in North Ayrshire, which is expected to be operational in early 2018, and management have identified a number of additional sites across the UK.
Horizon Ceremonies has built a high quality and trusted business in a market underpinned by resilient demand and long term structural drivers. From our initial investment through to follow-on funding rounds, we’ve supported the business in scaling its operations, navigating planning challenges, and embedding ESG at its core. We are proud to have backed the team from its early origins and are delighted to deliver this excellent return for our investors.
Colin Anderson, Partner at Maven
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