Maven appointed to manage £27m fund for north-east England

The vehicle is part of the £120m North East Fund investment programme and will provide equity, debt and mezzanine funding of £400,000-2m. It will invest across the seven local enterprise partnerships of Northumberland, north and south Tyneside, Newcastle, Gateshead, Sunderland and Durham.

The development comes eight months after Maven was appointed to manage £90m of SME-dedicated debt funds for the Midlands Engine Investment Fund (MEIF) and nine months after it opened an office in Durham.

The firm has secured a number of publicly funded regional mandates since the start of 2017. In February 2017, Maven 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.

Maven's north-east investment team is led by investment director Michael Vassallo.

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