NEDCF Maven COVID-19 statement

19th March 2020

As you would expect, the senior management team at Maven has been closely monitoring the situation around the impact of the Covid-19 pandemic, which is continuing to evolve rapidly. Maven has already taken a wide range of preventative actions aimed at protecting the health and safety of its staff, investee companies and business contacts. In keeping with wider moves by business and government, Maven is also applying travel restrictions and ensuring social distancing for staff, such that all non-essential meetings will be conducted by video and conference calls. A similar approach is being adopted by many of our portfolio companies and their advisers.

Continuing to support North East business

This is a time of considerable uncertainty for North East businesses, exacerbated by volatility in global financial markets. The North East Maven team intends to do as much as it practically can to help guide and assist portfolio companies and advisers through this difficult time. The Maven team has many years’ experience of working across a diverse range of industries and sectors, including during challenging economic periods, and is already working closely with portfolio companies which have been most affected by this global health crisis.

Our new working patterns

The North East team has taken appropriate steps to ensure business continuity across all key functions of our business, including their interaction with important third party suppliers such as banks, advisors and portfolio companies.

From this week, our UK business has migrated to a carefully co-ordinated programme of remote working, ensuring comprehensive coverage of key business areas, with full IT assistance for staff in all locations. This network and infrastructure is supported by our existing and tested business continuity plan and is enabling our team to operate as normal and avoid any unnecessary disruption to our portfolio companies, staff or business contacts.

Whilst these measures are introducing some changes to our normal working practice, the North East Maven team remains at its post and continuing to service our  portfolio businesses and advisers. 

We wish you, your families and colleagues the best of health during these difficult times and look forward to seeing you again in the near future.

Until then, we will continue to provide regular updates on our website. Please continue to contact Maven using the telephone numbers provided; all general enquiries should be directed to our team at 0191 731 8590 or send an email to northeast-enquiries@mavencp.com

 

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