More than £18m invested by Maven in Midlands last year

Maven has invested more than £18 million in firms across the Midlands over the last twelve months, supporting thirty-four SMEs in the region.

Appointed by the British Business Bank in 2017, Maven manages two debt funds on behalf of the Midlands Engine Investment Fund (MEIF) across the West, East and South East Midlands, working with the Local Enterprise Partnerships (LEPs), Local Authorities and Growth Hubs across the Midlands.

Maven has completed transactions ranging from £100,000 to £1.5 million, providing finance across a diverse variety of sectors, including retail, tech, engineering and healthcare.

Typically, funding is secured to drive expansion, such as hiring new staff, purchasing machinery, increasing working capital and growing customer reach.

“The Midlands has historically been a key driver for UK economic growth and a hotbed for growing SME businesses,” said Jonathan Lowe, Investment Director for MEIF East and South East Midlands.

“Supporting such a large number of local companies in just one year demonstrates the need for this type of debt finance, and the breadth of established, cash generative small businesses that currently exist, ready to take on finance to grow their business.”