Maven Capital Partners is opening an office in Preston as part of the continuing expansion of its North West investment operations.
The private equity firm has a long-established presence in the North, with a team already operating across the Northern Powerhouse Investment Fund from a Manchester base.
The new office is ideally situated to provide additional investment and administrative resource for NPIF investments and the ongoing support of new portfolio companies. I
It is located close to the thriving Preston Docklands area, a popular area for business, leisure and shopping, with easy access to the North’s motorway networks, rail and air hubs. The opening of the Preston office follows Maven’s appointment in February by the British Business Bank (BBB) as fund manager for the new £57.5m North West focused NPIF Maven Equity Finance Fund.
That is part of the £400m of capital made available by the Northern Powerhouse Investment Fund (NPIF) which aims to provide equity and debt finance of between £50,000 and £2 million to regional SMEs across a range of sectors.
NPIF will support the growth aspirations of high-potential SMEs that can contribute to regional economic development, job creation and innovation.
It is a £400m partnership between the BBB, a number of Northern England Local Enterprise Partnerships (LEPs), the European Investment Bank and the European Regional Development Fund.
The NPIF Maven Equity Finance fund will provide equity funding to high-potential businesses primarily in the North West.
Ryan Bevington, Fund Manager for NPIF Maven Equity Finance, said: “The team at Maven is recognised for the proactive support we provide to investee businesses in helping them achieve their growth plans, and by opening a new office in Preston we are able to be closer to the businesses we invest in.”