Private equity firm Maven has hit a £70m milestone for investments into businesses based in the North West of England.
The investments, made through Maven’s Northern Powerhouse Investment Fund, have helped to create 1,300 jobs in the region, the firm said.
“Celebrating this milestone is a testament to the appetite for investment here and demonstrates the opportunities for businesses and the level of innovation in the North West,” said Ryan Bevington, investment partner at Maven Capital Partners.
Maven this year has doubled down on its pursuit of investing in the North West tech ecosystem, establishing offices in Burnley, Preston, Southport and Liverpool.
Over in the North East, technology companies received £32.5m from Maven last year.
Keira Shepperson, director of the state-owned British Business Bank, said: “This is a significant milestone and it is evident that many businesses across a host of industries have been able to reach new heights as a result of securing access to finance from Maven.”
The £106m Northern Powerhouse Investment Fund invests £50,000 to £2m in North West of England-based tech, digital, life sciences and healthcare companies.
Software company DiffusionData earlier this month secured £1m from Maven to establish a new engineering and testing facility in Newcastle.