Investment startup Growth Capital Ventures has secured £750,000 in new investment from Finance Durham Fund.
GCV will use the money to further develop its three main business units: G-Labs, G-Ventures and Quva, as well as move premises to larger offices within County Durham.
Launched in 2015, GCV is an Financial Conduct Authority-authorised FinTech firm that helps investors build a diversified investment portfolio and supports entrepreneurs with raising capital to launch and scale startups.
Maven Capital Partners managed the funding from Finance Durham Fund.
“GCV has developed an innovative software solution that considerably streamlines the investment process for investors, and the company is uniquely placed to capitalise on current market conditions,” said David Nixon, investment manager at Maven.
“The company has grown to be one of the most high-profile venture builders and incubators in the North East and this is a great opportunity for Finance Durham to support a Durham-based business in not only scaling itself, but supporting the next generation of local entrepreneurs across the county and region as a whole. We very much look forward to continuing working and supporting GCV now and in the coming years.”
Craig Peterson, co-founder and COO at GCV, added, “We are delighted to have secured £750,000 of investment from the Finance Durham Fund to support the next stage of our growth. The fund has already backed some exciting businesses in County Durham and we’re thrilled that key partners involved in the fund have bought into our vision to support the region’s ambitious, high-growth businesses.”
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