Maven invests £10 million in North East businesses in 2021

Maven Capital Partners invested £10 million in 18 high-growth businesses in the North East in 2021.

The investment was achieved through Maven’s management of regional funds in the North East, alongside its suite of private equity funds.

Local companies that received funding last year include innovative performance marketing services provider, Leaf; specialist food and beverage canning, sterilisation and pasteurisation business, CRL Foods; and intelligent software solutions provider for rail and construction, Project Control Tools.

Maven can support a variety of businesses across a range of sectors from technology to life sciences, and manufacturing and engineering to services and healthcare. The team also has a strong interest in backing businesses combatting climate change. Power Roll, a developer of ultra-low-cost and lightweight flexible film for energy generation and storage, secured further funding from Maven last year to support its growing list of UK and international customers and to invest in the development of its newly opened manufacturing plant in Durham.

This significant level of 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 £27 million 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 successfully leveraged £10 million in private sector finance for local businesses in 2021. As one of the UK’s most active and well-resourced mid-market private equity firms, Maven has, through the management of its VCT funds and private equity co-investor network, supported innovative intranet software, Oak Engage, as well as Boiler Plan, a disruptive platform for sale and installation of boilers.

With one of the UK’s fastest growing economies, a highly skilled workforce and home to four national centres of excellence, the North East is experiencing one of the highest growth rates in business start-ups in the UK. The region is now considered a pioneer in the development of electric vehicle technology and a major centre for the renewable, offshore and subsea energy industries, and boasts a vibrant digital and tech sector.

Michael Vassallo, investment director at Maven, said: “We see the North East as a hotbed of innovation, brimming with ambitious entrepreneurs, who are being supported by a thriving business community. We are delighted to celebrate such a great achievement in 2021. We’ve invested in some exciting local businesses and, through Maven’s multiple funding streams, have been able to back our portfolio at various stages of their growth journey.

“Despite the uncertain economic climate we’re experiencing, it’s been great to work with so many of the North East’s innovative companies to help raise their profiles, secure major new contracts and raise the finance required to implement their growth strategies.”