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NPIF – Maven Equity Finance invests over £70 million

NPIF – Maven Equity Finance, managed by Maven Capital Partners (“Maven”) and part of the Northern Powerhouse Investment Fund (NPIF) has invested over £70 million in 74 dynamic, high growth businesses since the Fund’s launch in 2017. In addition to direct investments, NPIF – Maven has also successfully leveraged an additional £145 million in private sector finance for companies, creating over 1300 new jobs across the North.

Maven has backed a number of exciting businesses, including Fintech platform Yimba, that has developed digital wallet technology that allows banks to deliver personalised banking services to their consumers via mobile banking and payment wallet integrations. The funding enabled the business to expand its team to service a growing number of customers and create a number of jobs

The local North West team also invested in several high growth technology businesses including data quality, migration & transformation service provider Intelligent Delivery Operations, technology platform for data curation, Nivo, and contactless fundraising device from tech-for-good company GWD.

Alongside investments, Maven has delivered a number of profitable exits for the Fund including Ideiio, a SaaS cyber security business which was acquired by Fastpath Solutions LLC, the leading provider of access control solutions for business applications, to expand its capabilities to offer full identity security and lifecycle management.

Appointed by the British Business Bank in February 2017, Maven manages £96 million worth of equity finance after being allocated an additional £15 million to invest in businesses for the Northern Powerhouse Investment Fund. Working with the Local Enterprise Partnerships (LEPs) and Combined Authorities in the North West, NPIF – Maven Equity Finance can support a variety of businesses across a range of sectors from digital and technology to life sciences, and business and professional services to healthcare.

Ryan Bevington, Investment Partner of Maven Capital Partners, said: “Maven has had a long-term presence across the North West for a number of years and we now have one of the largest investment teams in the region. Celebrating this milestone is a testament to the appetite for investment here and demonstrates the opportunities for businesses and the large talent pool and level of innovation. 2022 was another really busy year for us and we are proud to have backed so many ambitious, growth focused companies operating in a range of exciting industries.”

Keira Shepperson, Director at British Business Bank, said: “This is a significant milestone and it is evident that many businesses across a host of industries have been able to reach new heights as a result of securing access to finance from Maven. Funding can be a transformational tool for businesses and Maven has been a key player in making these changes happen for highly ambitious companies.”

The Northern Powerhouse Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.

Maven Capital Partners UK LLP is authorised and regulated by the Financial Conduct Authority, Firm Reference Number 495929.