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Back to Northern Powerhouse Investment Fund News – Issue 19

Foreword

Welcome to the 19th edition of the Northern Powerhouse Investment Fund (NPIF) quarterly newsletter. It’s hard to believe we’re already halfway through the year and moving nearer to launch of the Fund’s next iteration – the £660m Northern Powerhouse Investment Fund II (NPIF II).

Launched as part of our wider programme of Nations and Regions Investment Funds, it’s set to offer a range of commercial finance options from smaller loans of £25,000 to equity investment up to £5 million. You can read more on NPIF II later in this newsletter.

Since the last edition, we have also surpassed a significant milestone, as NPIF has now facilitated over £1 billion of investment into the North, made up from £405m of direct investment from NPIF and an additional £613m of private sector co-investment. It’s testament to the incredible work of everyone involved with the Fund, from the fund managers through to the businesses it supports.

You can read more on recent deals that NPIF has completed later in this edition, including a spotlight on Next Level Security Services in Stockton-on-Tees, that recently secured a six figure investment round from NPIF – FW Capital Debt Finance.

We also take the time to revisit ChloBo, a growing handmade jewellery business in Chester that has gone from strength-to-strength since securing a £70,000 NPIF – River & GC Microfinance loan in August 2020.

I hope you enjoy our latest newsletter, where you can learn more about support provided by the Northern Powerhouse Investment Fund and the impact it continues to make in building a stronger north.

Louis Taylor, CEO at British Business Bank

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.

Editors Notes