Finance Durham Fund

Finance Durham is part of Business Durham’s strategy to deliver business and economic growth across the county by supporting dynamic SMEs which are otherwise struggling to access the growth finance that will allow them to develop their businesses. Maven is one of the UK’s most active SME investors, investing in and supporting a wide range of entrepreneurial SMEs, with an established, regionally based investment and portfolio team able to provide comprehensive support to Durham based portfolio companies, both in terms of the initial investment process and the ongoing support as they grow.

Finance Durham will commence investment from May 2017, supporting the growth aspirations of up to 70 viable smaller businesses that can contribute to economic development, job creation and innovation within the county. The fund can providing flexible equity, debt or mezzanine funding packages of between £200,000 and £700,000 in businesses of all sizes, with 10% of the fund available to invest in earlier stage companies to support innovation. It can invest across all sectors in companies which are based in, or relocating to, County Durham at the time the investment is made.

With ambitious, high-growth SMEs often unable to get the funding they need from a bank or requiring a more flexible form of finance, or perhaps in need of both finance and expertise, Finance Durham may suit their aspirations. Funding can be used in a variety of scenarios, and at all stages of the business growth cycle.

Maven's experienced investment and portfolio professionals understand the challenges faced by businesses looking for growth finance, and can work closely with management teams to support their business growth. Our aim is to help each company achieve its growth potential, whilst ensuring that the process for working with Maven is as effective and straightforward as possible.

In order to fully appraise a funding application Maven would need to receive a detailed investment proposal covering the key points about your business and growth plans, including:

• A detailed description of your company and its products or services.
• Your growth plan and reasons for seeking Finance Durham investment.
• Details of the market in which you operate, and your company profile within that market. 
• Your current financial position, historic and current accounts, and analysis and financial projections based on receiving funding.
• Biographies of the key people involved in the business, including relevant sector senior team experience and expertise.
• Your exit strategy for the period post investment, including potential acquirers, IPO opportunities or other strategies.

Maven will undertake both internal and external due diligence on any proposed investment and, and aims to deliver a tailored funding package that suits the growth requirements of the business.

The strength and experience of the management team ultimately drives business success, and so is a key factor in assessing eligibility for Finance Durham investment. Maven’s executives therefore aim to meet management as early as possible in the process, in order to build an understanding of the business and the key people, as well its product and markets.