Maven Capital Partners, the private equity division of SIPP and Financial Planning firm Mattioli Woods, has acquired EIS manager Newable Ventures Limited as part of a move into the Enterprise Investment Scheme market.

Mattioli Woods has acquired EIS manager Newable Ventures from Newable Capital Group Limited, subject to regulatory approval, for an undisclosed sum.

Mattioli Woods says the deal will allow Maven to expand its activities into direct Enterprise Investment Scheme (EIS) investment.  

Newable is an EIS-focused fund management company with £12m of Assets Under Management.

Maven says it plans to strengthen Newable's senior management team and broaden its product range. Mattioli Woods acquired Maven in 2021. 

Mattioli Woods says the transaction represents a “strategic milestone for Maven” in providing emerging businesses with an extra way to access venture capital. It also provides a new avenue for investors to invest tax-efficiently in smaller UK companies with 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 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.  We look forward to welcoming the Newable team to Maven."

Newable CEO 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."