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Back to Northern Powerhouse Investment Fund News – Issue 5

Foreword

This is the fifth edition of our Northern Powerhouse Investment Fund (NPIF) newsletter and one which, I’m pleased to say, continues the theme of earlier newsletters in showing a productive period with a wide spread of investments both geographically and across sectors.

Together with our fund managers, we have reached new milestones with more than 330 businesses receiving over £120m of funding to fuel their growth.  £68m of this money has come directly from NPIF funds and that leveraged an extra £54m in private sector finance.  These investments are supporting key growth sectors, with advanced manufacturing and technology now particularly active.

This issue of the newsletter contains case studies of great businesses from across the North that are taking advantage of the funding opportunities that NPIF has made available.  In addition, we cover some of the support we continue to enjoy from our stakeholders.  One highlight is Jake Berry’s visit to  Adventoris – a Huddersfield-based software developer that secured £500,000 from NPIF in November 2017.  During his visit the Northern Powerhouse Minister complimented the rapid progress of the Fund and its role in supporting the North’s ambitious and innovative businesses.

We cannot rest on our laurels, there is still more to be done to increase awareness of the funding available amongst those high growth companies that would benefit from investment and amongst the corporate finance community. We are doing what we can to promote the Fund, including through events, social medial and the mainstream press but we also need our stakeholders and others to help.  Should you have an event or similar opportunity to promote the Northern Powerhouse Investment Fund please contact Suzanne Tinkler suzanne.tinkler@british-business-bank.co.uk from our marketing team and she will be happy to help.

Thank you for your interest in the Northern Powerhouse Investment Fund and the British Business Bank.

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