North East businesses receive £10m investment and over 400 jobs saved through Maven

Maven Capital Partners has invested £10m into some of the region’s high growth businesses and has safeguarded over 400 jobs.

Maven, said to be one of the UK’s most active private equity houses, has invested the money since opening its Newcastle and Durham offices in May 2017.

This investment has mainly been achieved through Maven’s management of regional funds in the North East, the £20m Finance Durham Fund established by Durham County Council and the £27m North East Development Capital Fund, supported by the European Regional Development Fund.

In addition to the investments made on behalf of the regional funds, Maven has supported intranet software, Oak; app designer, hedgehog lab; and disruptive platform for sale and installation of boilers, Boiler Plan.

Michael Vassallo, investment director at Maven, said: “We are delighted Maven has reached such a significant milestone and that we have been able to support so many jobs across the region.

“Since opening office in the region less than two years ago, Maven’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.

“Our local investment team works closely with the businesses we support and reaching this key milestone demonstrates the need for this type of finance. We look forward to working with more companies to help them achieve their growth plans.”