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Back to Northern Powerhouse Investment Fund News – Issue 7

Q&A: Meet the Fund Manager

Name: Joanne Whitfield
Company: FW Capital
Job title: Fund Director
NPIF area: Tees Valley

Describe a typical day as a fund manager?

Every day is different which is what I love about the job. I usually start by checking emails, catching up on local business press and make a plan for the day over breakfast. Then it’s off to one of our offices in Billingham or Newcastle to read a credit paper, discuss the opportunity or catch up with my team.

I usually eat lunch at my desk whilst ploughing through emails whilst the afternoon can involve report writing or having a coffee with a local professional to explore ways we can work together. Often there are networking events or dinners to attend in the evening.

What is it like working with SMEs across the North?

I’m a proud Northerner, and I’m passionate about supporting the people here. I have worked with SMEs in the North East for over 15 years. I love to see how our investments and additional support help businesses flourish and I get a real sense of pride from being part of it.

What characteristics do you look for in a new deal?

It’s all about the people. Do they have relevant experience, as well as depth of skills and the capacity to manage as the business grows? Can they drive forward their ambitions and will they work with you? A lot can change in business, you need a good team who can be flexible and ride both the highs and lows to success.

We manage a debt fund, so the ability to service a loan is essential for us. Whilst past performance is a good initial benchmark to judge, it’s not always the case. We take time to understand the business and we do consider more forecast-led proposals if the circumstances are right.

What sectors should we keep an eye on in the North?

Tees Valley has historically been strong in industrial sectors and their supply chains require support. That said, sectors such as healthcare, life sciences, digital, and renewables are doing well. Sector specific clusters such as the Boho Zone, Fusion Hive for growing digital and tech companies, or Central Park, home of the National Biologics Manufacturing Centre for healthcare and life science businesses in Darlington are emerging, encouraging businesses to thrive in these areas. Tees Valley is also leading developments in the renewables sector and we are seeing some innovative companies in this space.

Proudest career achievement to date

It was in 2017.  We secured a number of new funds, including NPIF – Debt Finance in Tees Valley and Cumbria. This was a step change in growth and allowed me to increase the North East team from 4 to 11 people.

What do you do in your spare time?

I love spending time with my husband Stu and our English Bulldog George. Aside from that, I am a reluctant runner!  I have run the Great North Run loads of times, usually for charity and in fancy dress and have even run a couple of marathons. I am attempting my third in Chicago in October.  I’m also a huge fan of live music. I love going to see bands and I sing in a band.

The Northern Powerhouse Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.

FW Capital Limited is regulated by the Financial Conduct Authority as a small authorised UK Alternative Investment Fund Manager under firm reference number 506719

Editors Notes