Regional correspondent for business news publisher, Bdaily, talks to Maven's North East Investment Director for its 'festive focus'.
Can you introduce yourself and your business to our readers?
“I’m Michael Vassallo, an investment director at Maven Capital Partners; one of the most active private equity houses in the UK with a strong record of backing dynamic businesses throughout the North East.
“We manage the £20m Finance Durham fund as well as the £27m North East Development Capital Fund which helps entrepreneurs across the North East by providing the funding they need to grow their businesses, supporting the local economy and creating jobs.”
What was your company’s biggest achievement of the year?
“We have been very busy this year having invested over £7m into North East businesses across the Finance Durham Fund, North East Development Capital Fund, our Venture Capital Trusts and Private Equity arm.
“The North East office of Maven only opened midway through 2017 so I am very proud of the level of investment and the quality of companies we have supported in 2018.
“Businesses like Oak Intranet, Boiler Plan UK and Hedgehog Lab are all exciting high growth businesses and a credit to the entrepreneurial spirit in the North East.”
How would you approach 2018 differently, given the chance?
"Investing can be a risky business but I believe this year we have taken the right decisions to deliver strong future returns for our investors.
“We have grown the capabilities in our own team with the addition of Jamie Fraser, an experienced corporate banker, and have used some excellent external diligence providers to ensure that we are making the best possible investments.”
What are your company’s plans for the new year?
“We have a strong pipeline of potential deals and plan to invest over £10m in North East businesses in 2019.
“To do this we will be running events and reaching out to business owners to highlight our multiple funding streams and evidence the added value that Maven can provide.
“We can invest from a few hundred thousand all the way up to around £15m and can draw upon significant experience from both our local and national teams to help businesses grow.”