News

27th January 2021

NPIF surpasses 1,000 investments milestone

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Northern Powerhouse Investment Fund

The Northern Powerhouse Investment Fund  has facilitated over 1,000 investments since its launch in 2017, supporting businesses across the North in a wide range of sectors.

In total, NPIF has now invested a total of over £227m with an additional £253m leveraged by the private sector.

The Fund, which now supports almost one in six equity deals across the North, provides a range of finance options including Microfinance between £25,000 and £100,000, Debt Finance between £100,000 and £750,000, and Equity Finance up to £2m.

Over the last year, NPIF has continuously supported businesses through the various regional COVID 19 tiers and national lockdowns, completing over 250 investments and loans since March 2020. Many of these loans have been backed by the Government’s Coronavirus Business Interruption Loan Scheme (CBILS), and NPIF’s equity funds have also invested alongside the Government’s Future Fund programme.

Grant Peggie at British Business Bank said: “Our team, together with fund managers, Local Enterprise Partnerships, the Combined Authorities and Growth Hubs, as well as local accountants and banks across the North have been working hard to support businesses at all stages of their growth journey over the last few years.

“We are proud to have been able to provide support to companies that need it the most – from helping businesses to get back on their feet following the first lockdown to diversifying into new markets and operating models. We would encourage all businesses across the North to consider the finance options available to them and seeking funding could have a positive impact on your business in 2021.”

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.