Funding will help GCV scale its G-Labs and G-Ventures divisions and roll out its new software platform Quva for alternative asset managers and investor networks
Finance Durham Fund, which was established by Durham County Council and overseen by Business Durham, has today announced the investment of £750,000 in Growth Capital Ventures (“GCV”). The investment through Finance Durham, managed by Maven Capital Partners (“Maven”), will support GCV’s growth plans as it seeks to further develop its three main business units G-Labs, G-Ventures and Quva, as well as move premises to larger offices within County Durham.
Launched in 2015, GCV is an FCA authorised fintech firm that helps investors build a diversified investment portfolio and supports entrepreneurs with raising capital to launch and scale high-growth businesses.
G-Labs, GCV’s innovation and venture builder unit, invests capital, knowledge, experience, ideas and infrastructure to help tech entrepreneurs incubate business opportunities in high-growth sectors. Taking their ideas from concept to launch, scale, maturity and exit, this approach also provides its G-Ventures online investor platform with access to well-structured and high-quality investment opportunities where the interests of investors and founders are fully aligned.
The latest offering from GCV is fintech software solution Quva, which designs, builds and operates online investment and reporting platforms aimed at streamlining the overall investment process and providing an end-to-end solution for investment managers and investor clients.
The business has a strong senior management team lead by industry experts Norm and Craig Peterson, both FCA accredited and supported by a robust and growing secondary management team.
David Nixon, Investment Manager at Maven, said:
“GCV has developed an innovative software solution that considerably streamlines the investment process for investors, and the company is uniquely placed to capitalise on current market conditions. The company has grown to be one of the most high-profile venture builders and incubators in the North East and this is a great opportunity for Finance Durham to support a Durham-based business in not only scaling itself, but supporting the next generation of local entrepreneurs across the county and region as a whole. We very much look forward to continuing working and supporting GCV now and in the coming years.”
Craig Peterson, co-founder and chief operating officer at GCV, added:
“We are delighted to have secured £750,000 of investment from the Finance Durham Fund to support the next stage of our growth. The fund has already backed some exciting businesses in County Durham and we’re thrilled that key partners involved in the fund have bought into our vision to support the region’s ambitious, high-growth businesses.”
Sarah Slaven, Interim Managing Director at Business Durham said:
“GCV is a great example of the kind of dynamic company Finance Durham was set up to help and we are really pleased to be able to support their continued growth through this investment. The services and platforms that GCV have developed will support Business Durham’s agenda to grow the Fintech sector in the County and help new companies bring forward innovative high growth proposals, which will be particularly important as we move into a period of economic recovery.”
Cllr Carl Marshall, Durham County Council’s Cabinet member for economic regeneration, said:
“Growth Capital Ventures helps investors to develop their portfolios, as well as supporting entrepreneurs to launch high-growth businesses. This means that by investing in the company we are not just supporting one business, but many others too, creating even more jobs and boosting the economy. As we recover from the impact of the coronavirus, it is vital we do all we can to support businesses and the Finance Durham is just one of the ways we are doing this.”
For media enquiries or any questions about the investment, please contact:
Sapience (PR to Maven)
020 3195 3240
0771 785 5741
Notes to Editors
About Maven Capital Partners UK LLP www.mavencp.com
Maven Capital Partners UK LLP (Maven) is an independent private equity house focused on the provision of flexible equity and debt funding for UK SMEs, and one of the most active managers in the UK having invested over £500 million in British businesses since 2009.
Headquartered in Glasgow, and with eleven offices throughout the UK, Maven has over 90 investment and support professionals providing a truly nationwide coverage. Maven has £660 million funds under management and ready to invest, and manages assets for a variety of client funds, including Venture Capital Trusts, UK regional fund mandates, and Maven Investor Partners, a syndicate of institutional, family office and experienced investors.
About Business Durham www.businessdurham.co.uk
Business Durham is the economic development arm of Durham County Council to deliver the environment for business and economic growth.
It is a knowledgeable and trusted guide which connects businesses with the right funding, advice, and networks they need to grow and thrive.
Business Durham works closely with partners to encourage an enterprise culture, helping entrepreneurs to turn bright ideas into successful reality and students to develop enterprise skills to become our future business leaders.
The organisation manages a portfolio of business property and excels in finding the right space for businesses to grow – commercial office space, modern laboratories and industrial property units.
Business Durham attracts capital and inward investment to the county, and develops an innovative economy that enables companies to grow and flourish.
Business Durham builds long-term relationships to foster sustainable growth in businesses, raising economic aspirations and making Durham a place where business is done.