From Salford to Silicon Valley: Maven's fourth exit in the North West

Delinea specialises in providing PAM solutions that ensure stringent access controls, allowing enterprise customers to grant access based on necessity and job relevance. FastPath, headquartered in Atlanta and owned by US private equity fund Pamlico Capital, is a leader in Identity Governance and Administration (IGA). Known for its cloud-based access orchestration solutions, FastPath is favoured by top audit and consultancy firms globally.

By integrating FastPath’s innovative IGA solutions, Delinea aims to enhance its offerings by delivering precise privilege controls based on user risk scores and data value. This acquisition is set to elevate Delinea’s capabilities in securing complex interactions between privileged users and corporate data, offering unparalleled security, efficiency, and control.

What relevance does this transatlantic deal have with NPIF - Maven Equity Finance?

In 2022, Manchester-based, Ideiio, secured a £2 million investment from NPIF - Maven Equity Finance to expand into the US market. Following a period of strong growth, FastPath acquired Ideiio, broadening its product suite to include full identity, security, and lifecycle management solutions. The acquisition of FastPath by Delinea is a testament to the dynamic nature of the cybersecurity market and the strategic foresight of investors like Maven.

“The recent acquisition of FastPath by Delinea represents a full exit for NPIF - Maven Equity Finance from its investment in Ideiio, and highlights the significant returns that can be generated from these ventures—which are ultimately funded by taxpayers' money. This deal not only enhances Delinea's product capabilities but also demonstrates the significant impact of targeted investment in fostering innovation and growth in the technology sector. It also underscores the value of early-stage equity investments by an experienced investor like Maven, showcasing the potential of northern teams like Ideiio in developing market-leading cybersecurity solutions.”

Karen de Meza, Portfolio Director at Maven

This exit represents Maven’s fourth successful exit in the North West this year, following exits from two rapidly growing technology companies, AppLearn and Membr, through sales to prominent US-based firms, and the sale of The 55 Group to LDC.

The transaction marks another milestone in Maven’s track record of identifying and nurturing high-potential businesses, demonstrating the strength of its investment approach and the opportunity in the UK’s private equity sector to drive innovation and growth.

“The Northern Powerhouse Investment Fund’s support has provided the foundations for Ideiio to supercharge its development journey to become a world-leading cyber security provider. The business is an excellent example of how NPIF investment for the right business at the right time can be the catalyst for worldwide expansion and success.” 

Debbie Sorby, Senior Manager at the British Business Bank

Maven is one of the UK’s most active private equity investors and has a track record of identifying and nurturing technology-driven businesses. If you are looking at private equity as a solution to fund future growth we would love to hear from you. Speak to one of our investment team by getting in touch at funding@mavencp.com.