Maven backs IP law firm with MEIF II debt funding

Panoramix, a specialist IP law firm delivering high-quality and cost-effective legal services to both UK and overseas businesses, has secured a six figure follow on debt funding package through the Midlands Engine Investment Fund II via appointed Fund Manager for East and South East Midlands, Maven.
    
Today's transaction follows Maven’s support through the first Midlands Engine Investment Fund in 2022, which played a critical role in enabling Panoramix to establish its presence in the East Midlands and expand its client base nationally while also growing its operations, building its team, and securing a permanent base in Lincoln.

Founded in 2019 by IP law specialist Kevin Hanson, Panoramix offers a flexible, attorney led service without the billable hours model commonly used across the industry. Instead, the business offers fixed fees based on task complexity and value, allowing clients to benefit from transparent and efficient services. 

Panoramix supports a range of clients from start-ups and SMEs to multinational corporations across various sectors, including technology, healthcare, retail and manufacturing. It is also one of the few UK-based IP law firms authorised to conduct US trademark work, holding direct practice rights with the US Patent and Trademark Office, which enables it to provide UK clients with cost-effective US IP support.

The loan from the Midlands Engine Investment Fund II will provide Panoramix with the resources to implement a comprehensive marketing strategy aimed at expanding its client base, particularly in the US market, where it has already seen strong demand. The funding will also enable the company to recruit additional staff, including a client relationship manager, an administrative support role and a part-qualified patent attorney to support its growing operations.

Richard Altoft, Investment Director at Maven and Kevin Hanson, Founder of Panoramix.

“The support from Maven and the Midlands Engine Investment Fund I in 2022 was critical in enabling us to establish our business in the East Midlands and grow our client base nationally. With further funding through Midlands Engine Investment Fund II, we intend to double our headcount and turnover within the next 24 months. This will involve development of new service offerings and expansion into new international markets. The future is looking very bright as we continue to revolutionise the IP legal services industry."

Kevin Hanson, Founder of Panoramix

"Panoramix has shown impressive growth through its innovative service model, establishing itself as a trusted provider of intellectual property services and is now well positioned to capitalise on sector opportunities. Our initial support through Midlands Engine Investment Fund I enabled the firm to expand its capabilities and build strong foundations for future growth. We are pleased to provide additional support with debt finance from Midlands Engine Investment Fund II to enable the business to continue to grow its team and expand to new markets.”

Richard Altoft, Investment Director at Maven

"This new round of funding from the Midlands Engine Investment Fund II follows investment from the first Midlands Engine Investment Fund, and we are pleased to see Panoramix continuing to thrive. This funding will support the company in creating new roles and exploring expansion opportunities overseas."

David Tindall, Senior Investment Manager at British Business Bank

Through MEIF II - Debt Finance East and South East Midlands, Maven can provide flexible finance options to address a variety of business needs, including enhancing working capital, purchasing new machinery, capital expenditure, export finance, product development and team expansion. The Fund has supported a number of businesses across the region to date, including Advance Tapes, an independent adhesive tapes manufacturer, DUKE Distribution, a logistics and trackway installation provider, Vision4Sport, a sports hospitality specialist and sustainable tech business, Circulayo.

As Fund Manager of MEIF II - Debt Finance East and South East Midlands, Maven can provide business loans from £100,000 to £2 million to support both earlier and later stage businesses with real growth potential across a range of sectors. If your business, or the business you advise, is looking at debt finance as a solution to fund future growth please click here.