Maven Capital Partners, a leading investor in growing businesses, has inaugurated a new office in Middlesbrough’s Boho Zone. This move underscores their commitment to the Northern Powerhouse Investment Fund II and the Teesside region. This strategic location will act as the hub for Maven’s activities in Teesside, advancing their support for local businesses.
Focusing on core sectors such as technology, engineering, life sciences, and renewables, Maven aims to offer comprehensive support from initial investment to sustainable growth. The partnership with Tees Valley Business Club enhances their connectivity with local companies, reinforcing their investment of over £50m in the North East, creating over 1,200 jobs.
Maven Capital’s New Office in Middlesbrough
Maven Capital Partners, one of the UK’s most active investors, has opened a new office in Middlesbrough. This move is a key part of their commitment to the Northern Powerhouse Investment Fund II and their ongoing dedication to the Teesside region. The office is located in the Boho Zone, a hub for digital, creative, and business activities in the Tees Valley. The new location will serve as a central point for Maven’s investments in the Teesside region.
Investment Strategy and Local Support
Maven continues to focus on core sectors such as technology, engineering, manufacturing, life sciences, and renewables. By joining the Tees Valley Business Club, they aim to connect more closely with local companies. They provide not only initial investment but also ongoing support for sustainable growth. This new office reinforces Maven’s commitment to investing in the North East. They have already invested over £50m in more than 40 companies in the region, creating over 1,200 new jobs.
Economic Impact and Recruitment
The new office will allow Maven to continue supporting local businesses in Teesside. As the equity fund manager for the Northern Powerhouse Investment Fund II in the North East, Maven brings £50m additional funding to the region. Michael Vassallo, investment partner at Maven, stated, “With our great track record in the North East region, along with the business opportunities and economic potential present in Middlesbrough, it was clear that establishing an office was the logical next step.” The company is also planning a recruitment drive to expand its investment team.
Middlesbrough’s Strong Economic Potential
The Financial Times’ European Cities and Regions of the Future report named Middlesbrough as the sixth best ‘small city’ for its foreign direct investment strategy. This recognition highlights Middlesbrough’s strong potential for economic growth and innovation. Over the last six years, Maven’s North East team has had a significant positive impact in the region from its existing bases in Newcastle and Durham. Maven’s presence in Middlesbrough is expected to further enhance the area’s economic prospects.
Details on the Northern Powerhouse Investment Fund II
The £660m Northern Powerhouse Investment Fund II covers the entire North of England. It provides loans ranging from £25k to £2m and equity investments up to £5m. The aim is to help small and medium-sized businesses start up, scale up, or stay ahead. The fund’s purpose is to drive sustainable economic growth by supporting innovation and creating local opportunities for new and growing businesses across the North of England. By increasing the supply and diversity of early-stage finance, the fund aims to break down barriers in access to finance.
Maven’s Track Record in the North East
Maven Capital has been one of the UK’s most active investors, providing essential capital investment to UK businesses. In the last six years, Maven’s North East team has made a significant impact, contributing to the growth and success of numerous local businesses. The establishment of the new office in Middlesbrough is a testament to their dedication to the region. This move is expected to unlock additional opportunities for innovative and ambitious companies in the area. According to Michael Vassallo, “We are excited to continue investing in this region and unlock additional opportunities for innovative and ambitious companies.”
Future Plans and Recruitment Drive
Maven Capital is embarking on a recruitment drive to expand its investment team further. This effort aims to identify more local businesses with high potential. By expanding their team, Maven hopes to provide even more comprehensive support to the local business community. This initiative aligns with their overall strategy to foster sustainable economic growth and innovation in the North East.
Community Engagement and Business Growth
By joining the Tees Valley Business Club, Maven Capital aims to engage more effectively with the local business community. This membership will help them understand the unique needs and challenges faced by businesses in the Teesside region. By providing both financial support and expert guidance, Maven aims to help local businesses grow sustainably. This new office in Middlesbrough is a significant step towards achieving that goal.
In conclusion, Maven Capital Partners’ new office in Middlesbrough marks a significant step forward for the firm and the Teesside region. This move reaffirms Maven’s dedication to supporting local businesses and fostering economic growth. By joining the Tees Valley Business Club and expanding their recruitment, they aim to build stronger connections within the community.
With a substantial investment from the Northern Powerhouse Investment Fund II, Maven aims to drive innovation and create opportunities for small and medium-sized businesses. The new office opening signals a promising future for Middlesbrough and the wider North East region. Maven Capital Partners is well-placed to make a lasting impact on the economic landscape of Teesside.