Maven Capital Partners, one of the UK’s most active private equity houses and manager of the £20m Finance Durham Fund, is open for business in the North East after moving into Salvus House at Aykley Heads, the new £3.4m office building run by Business Durham. With a newly recruited local team in place, Maven is supporting Durham-based businesses by providing flexible funding packages to suit their growth requirements.
The new office will add to Maven’s strong presence across the North of England making it well-resourced to provide the necessary support to local companies, both in terms of the initial investment process and the ongoing support as those businesses grow.
Maven is able to identify and attract more local, dynamic businesses seeking the growth finance they need to thrive within the county. Eligible businesses can now enquire or apply for funding online through the website.
The Fund’s objective is to deliver greater levels of investment into ambitious businesses based in, or looking to relocate to, County Durham to allow them to contribute to economic development, job creation and innovation within the county.
Maven will also launch a series of venture investment clinics run by the highly experienced investment team led by Michael Vassallo to provide advice sessions for Durham-based businesses seeking knowledge or support for growth.
Situated among the thriving business community at Durham City Park, Aykley Heads is also home to the North East Chamber of Commerce, Durham Constabulary, Swinburne Maddison, The Vardy Group and a range of occupiers at the Rivergreen Centre.
Michael Vassallo, North East Investment Director at Maven, said: “We are delighted to move into this great facility in the heart of Durham City. This is a fantastic location where the team is already engaging with businesses across the county and working with Business Durham to raise awareness of the support and funding available.
Cllr Simon Henig, leader of Durham County Council, said: “Finance Durham has allowed us to take direct action to improve the economic prospects of the county and create much needed jobs.
“Seeing Maven Capital Partners move into the exceptional facilities at Salvus House is another big step in the Finance Durham project.
“We wish them a very warm welcome to the area and look forward to working together in the future.”