Maven injects £1.1m into GCV

The fresh capital will enable GCV to invest in the development of its online peer-to-peer funding platform.

Maven drew its capital from its VCT funds, with the GP also stating it has launched its latest VCT with a target of £6m.

The deal marks the fourth VCT investment completed by Maven in 2016 and its 10th private equity deal. The GP recently backed Scottish enterprise software developer Incremental Group’s acquisition of Aberdeen-based First eBusiness Solutions.

Company
Founded in 2013 and headquartered in Aycliffe, County Durham, GCV is an online crowdfunding platform for early-stage companies and investors. The business offers investors SEIS and EIS tax relief, with investments focused primarily on real estate, technology and clean energy.

People
Maven Capital Partners – Bill Kennedy (partner).
Growth Capital Ventures – Norman Peterson (co-founder, CEO); Craig Peterson (co-founder, chief operating officer).

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• Topics
• Expansion
• UK / Ireland
• Financials
• United Kingdom
• Maven Capital Partners
• Venture