Maven Capital Partners hits milestone with 40th SME to benefit from £25m funding

TRAKRAP Holdings Ltd is the 40th local business that Maven’s NPIF (Maven Equity Finance) fund has supported since launching.

The NPIF fund is managed by Maven and is part of the Northern Powerhouse Investment Fund. It has invested a total of £25m supporting 40 SMEs and creating over 200 jobs since its launch in February 2017.

An additional £20m has been raised through private funding. Lancashire-based designer and sustainable manufacturer TRAKRAP has received a major £1.27m investment from the NPIF fund.

A total of £750k was invested on behalf of NPIF, along with £320k from existing shareholders and £200k of private investment. The funding is set to create up to 67 new jobs.

Alex Rothwell, investment manager at Maven, said: “TRAKRAP has created an exceptional product in line with the sustainable strategies many companies are now implementing.

“The team is highly experienced, and we look forward to working with them as they embark on their program of growth. We are delighted that NPIF - Maven Equity Finance has reached such a significant milestone.

“The fund’s positive impact on businesses in the North of England is already evident, fuelling the growth of ambitious SMEs across a wide range of industries, and supporting a significant number of jobs.”

Maven was appointed by the British Business Bank in February 2017 to manage £57.5m worth of equity finance for the Northern Powerhouse Investment Fund.

The fund provides investment capital to support the growth of businesses across many sectors and in various funding scenarios.

Maven works with five Local Enterprise Partnerships (LEPs) in the North West, as well as local accountants and banks to identify innovative and high-growth companies in which to invest.

Martin Leeming, chief executive officer of TRAKRAP, added: “We’re delighted to be the company to take Maven over the £25m investment milestone.

“The work it’s done - and continues to do - with SMEs in the UK is incredibly important in helping businesses like ours to grow. Our advisors, Eversheds Sutherland, were also instrumental in advising us every step of the way.

“As we grow, we will also create a significant number of new jobs, which is great news for the local economy.”

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