Newable is part of the Newable Capital Group and has £12m in assets under management. The acquisition will boost Maven's plans to expand its activities into direct Enterprise Investment Scheme investments.
Autumn Statement 23: VCT and EIS sunset clauses extended by a decade
In a stock exchange notice today (1 December), Mattioli Woods said the deal represented a "strategic milestone" for Maven by providing emerging businesses with an additional way to access capital, as well as a tax-efficient avenue for clients to invest in smaller UK companies with high growth potential.
Bill Nixon, managing partner of Maven, said: "As part of the continuing evolution and growth of the Maven business we have been keen for some time to add an EIS capability to our client offering.
"The acquisition of Newable Ventures is an important step forward in completing our objective of providing a full suite of best-in-class client products, which offer access to fast growing private company investments, often on a tax assisted basis.
"The recent announcement in the government's Autumn Statement that the EIS and Venture Capital Trust schemes will be extended through till at least 2035 ensures that these products will remain at the forefront of financial planning and portfolio diversification for investors. We look forward to welcoming the Newable team to Maven."
Treasury confirms extension to VCT and EIS sunset clause
Chris Manson, CEO of Newable, added: "This collaboration with Maven Capital Partners aligns with our vision to empower the UK's small- and medium-sized enterprises and start-ups. We are excited about the new opportunities this will bring to our investors and the companies we support".