Milestone deal

Maven adds EIS offering after acquiring Newable

Bill Nixon
Bill Nixon: important step

Maven Capital Partners, part of Mattioli Woods, the wealth management and asset management business, is acquiring Newable Ventures from Newable Capital Group.

Newable is an EIS focused fund management company with £12m of assets under management. Glasgow-based Maven, which was acquired by Mattioli Woods in 2021, will continue to strengthen Newable’s senior management team and broaden its product range.

Maven said the transaction represents a strategic milestone for the company in providing emerging businesses with an additional way to access venture capital, and a new avenue for investors to invest tax-efficiently in smaller UK companies with high growth potential.

Bill Nixon, managing partner, 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 Limited 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 budget 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.”

Newable chief executive Chris Manson said: “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”.

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