A £1.1m investment from Maven Capital Partners will help North East fintech firm Growth Capital Ventures with 12 new staff as it works on a £57.5m investment fund.
Growth Capital Ventures (GCV)’s partnership with Maven shines a light on the importance of co-investment.
Based in Newton Aycliffe, County Durham, GCV helps businesses raise between £150,000 and £5m to support growth and expansion and following the Investment from Maven, GCV is expanding, taking on 12 new staff members.
The company has a growing network of retail, professional and institutional investors that are keen to co-invest through its GrowthFunders platform and back the next generation of great UK businesses.
The firm partnered with Maven to bid for a series of Fund Mandates and Maven were appointed to manage the £57.5m Maven NPIF Equity Finance Fund, which provides equity finance to high growth businesses primarily across Lancashire, Greater Manchester, Liverpool, Cumbria and Cheshire.
It can also support ambitious SMEs based in Yorkshire and Humber and Tees Valley.
Craig Peterson, GCV’s co-founder and chief operating officer, said: “Maven’s investment has allowed us to recruit and strengthen the marketing, investment and tech teams. We are now working with a number of exciting high growth SMEs, preparing them for listing on GrowthFunders, our online co-investment platform.
“These are exciting times for Growth Capital Ventures and for businesses in the North of England. There is now a widespread recognition – not least on the part of government – of the enormous potential of the regions that drove the first industrial revolution.
“Also GrowthFunders is an ideal platform for connecting entrepreneurial and ambitious businesses to access a wider group of investors who are keen to invest in exciting opportunities.”