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Back to Northern Powerhouse Investment Fund News – Issue 4

Foreword

Welcome to the fourth issue of our Northern Powerhouse Investment Fund Newsletter.

As you will read it has been a busy and productive few months for everyone involved in the fund.  NPIF has now invested almost £60m into 285 small businesses across our 10 Local Enterprise Partnership areas, attracting over £46m of private finance alongside our investment. We are seeing good quality investments into growth companies that will have a real impact on jobs and productivity in the North.

Building on the success of the Northern Powerhouse Investment Fund the British Business Bank has now been formally tasked with a specific new objective, to address historic regional disparities in the availability of funding.  Having already built on the successful model used here to develop funds in the Midlands, through the Midlands Engine Investment Fund, we launched a fund for Cornwall and the Isles of Scilly in June.

It has been a busy first half of 2018 and we look forward to keeping up those energy levels as the fund builds into its second year.  We are grateful for all the support received from our stakeholders, within the LEP network and in the wider business community and look forward to working with you all as we anticipate further success for NPIF and as we start to shape the development of its successor.

Ken Cooper
Managing Director, 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