Maven Capital Partners, a subsidiary of Mattioli Woods, has finalized an agreement to acquire the entire share capital of Newable Ventures Limited from Newable Capital Group Limited. This move comes after recent discussions between Maven and Newable Capital Group executives. The acquisition will allow Maven to expand its activities into direct Enterprise Investment Scheme (EIS) investment.
Newable is a fund management company with a focus on EIS, boasting £12m of Assets Under Management (AuM). Maven plans to strengthen Newable’s senior management team and broaden its product range as part of their strategy to achieve further growth in AuM, following Mattioli Woods’ acquisition of Maven in 2021.
Bill Nixon, Managing Partner of Maven, expressed the significance of the acquisition, stating, “The acquisition of Newable Ventures Limited is an important step forward in completing our objective of providing a full suite of best-in-class client products.” He also highlighted the importance of the EIS and Venture Capital Trust schemes in financial planning and portfolio diversification for investors.
Chris Manson, CEO of Newable, expressed excitement about the collaboration with Maven, stating, “This collaboration with Maven Capital Partners aligns with our vision to empower the UK’s small and medium-sized enterprises and start-ups.” He also emphasized the opportunities this collaboration will bring to their investors and the companies they support.
