£20m Finance Durham Fund to be run from new office

The Maven team

£20m Finance Durham Fund to be run from new office

Boost for Durham-based businesses with tailor-made funding packages

Maven Capital Partners, which manages 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 and assembling a newly recruited local team.

 The new office will add to Maven’s presence across the North of England making it easier to identify and attract more local, dynamic businesses seeking the growth finance they need to thrive. Eligible businesses can now enquire or apply for funding online through the website www.financedurham.co.uk.

The Fund’s objective is to deliver more investment into ambitious businesses based in, or looking towards, 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 a team led by Michael Vassallo to provide advice sessions for Durham-based businesses seeking knowledge or support for growth.

Situated at the heart of the 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. It 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."