GLASGOW-based private equity house Maven Capital Partners has added around £300 million of new assets over the last 18 months, its managing partner has revealed.

Bill Nixon highlighted this success in the wake of Maven’s announcement last week that it had raised a total of £40 million for two of its venture capital trusts. Maven Income & Growth VCT 3 and 4 each raised £20m.

Mr Nixon cited “strong investor appetite” for such “tax-assisted” investment products on the back of lower pension allowances.

He said: “Demand for VCTs is very good, and we were able to sell out these two fund offers.”

Mr Nixon noted the funds had done well partly on the back of recent realisations from holdings in Edinburgh cycling apparel company Endura and Strathaven-based Crawford Scientific.

Endura was sold to Pentland Brands. Crawford, which provides scientific products including chromatography supplies, was bought by Limerston Capital Partners.

Mr Nixon also noted the VCTs held “a number of oil and gas assets”.

He said Maven had also just been appointed manager of the £27 million North East Development Capital Fund in Newcastle.

Mr Nixon noted Maven had opened offices in Newcastle and Durham in recent times to develop its business in these areas.

He said Maven had added 23 people across its business in the last year, taking the headcount to 80 across 11 offices.

Last autumn, Mr Nixon forecast Maven’s funds under management or committed by investors would by the end of 2017 be close to £600m.