In September 2024, the Maven VCTs partially realised their investment in Novatus Global, which provides specialised advice to financial services firms to support them in meeting their regulatory obligations, including risk, compliance and Environmental, Social and Governance (ESG) programmes.
With an innovative RegTech division which has developed a range of market leading tools, its flagship product enables banks and asset managers to solve their most complex challenges and meet transaction reporting reconciliation requirements in an efficient and cost-effective way. Novatus operates in a rapidly expanding market with clear and compelling growth drivers as financial services organisations are subject to ever increasing and more complex regulatory obligations.
The exit came just over two years after Maven's VCTs first invested in the company, and was part of a $40m investment in the company by US-based private equity firm Silversmith Capital Partners, which delivered a 4.7x total money multiple return for Maven shareholders, inclusive of an ongoing minority stake in the business. During Maven's investment period, Novatus significantly increased its annual recurring revenues by 13-fold, more than doubled its headcount, expanded internationally and made several strategic hires to its senior leadership team.
Maven’s partial realisation of its investment in Novatus is a fantastic result for our VCT shareholders whilst retaining an ongoing minority shareholding reflects of our continuing belief in the company and its future growth potential. As early investors who backed management to develop their market leading En:ACT technology, it’s gratifying to see the level of interest that there has been in the company from investors, culminating in today’s significant investment from Silversmith. This is testament to the founders Andrew and Matt and the growing team at Novatus who have excelled. The trust that its clients put in Novatus and the regulatory complexity driving the need for the En:ACT solution has driven real value in the Novatus business.
With new investment from Silversmith alongside Maven’s ongoing support we are confident that Novatus will continue to deliver for its clients, including further international expansion, notably in the US and are excited to be part of that journey.
Alan Robertson, Partner at Maven
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