Maven appointed to manage £20m Finance Durham fund

The evergreen fund will make up to 70 investments of £200,000-2m in companies based in or relocating to County Durham, in the north-east of England.

Of the fund's total, 10% will be set aside specifically for investments of £10,000-40,000 in startups.

Business Durham, which appointed Maven on behalf of Durham County Council, has previously made investments in digital bank Atom Bank and PolyPhotonix, a producer of eye masks for the treatment of diabetes-related eye diseases.

The development comes shortly after the GP was appointed by the British Business Bank to manage the £53m north-west equity vehicle associated with its Northern Powerhouse Investment Fund.

Northern England is currently enjoying a raft of investment from private equity and publicly-backed schemes, as reported recently by unquote".

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