Maven appointed to manage £90m MEIF debt funds

The GP will be responsible for deploying £50m across West Midlands and £40m across East Midlands and the regions to the immediate south, via the MEIF – Maven Debt Finance vehicles.

The new vehicle will provide SMEs with debt funding of between £100,000-1.5m.

Maven will open an East Midlands office in the coming weeks in addition to its existing Birmingham office to support its increased activity in the region, according to a statement from the GP.

The firm has secured a number of publicly funded regional mandates in recent months. In February it was given the mandate to manage £57.5m as part of the Northern Power House Investment Fund. The following month it was appointed as fund manager for Durham County Council's £20m Finance Durham fund and in July it opened an office in Durham, from which it will manage the vehicle.

The £250m MEIF was announced in the UK government's March 2016 budget and is a partnership between the British Business Bank and Midlands local enterprise partnerships.

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• Topics
• Debt
• UK / Ireland
• GPs
• United Kingdom
• Maven Capital Partners