Member Article

Maven sets up North East office to oversee £20m Finance Durham Fund

Maven Capital Partners, the private equity house managing the £20m Finance Durham Fund, has opened a North East office in Durham to support businesses looking for funding.

Based at Salvus House at Aykley Heads, the organisation has a newly-recruited local team in place complementing its presence across the North of England.

Maven will help Durham businesses with initial investment processes as well as providing support to companies as they scale.

The Finance Durham 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, added: “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.”

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