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The Northern Powerhouse Investment Fund II will build on the success of the first Northern Powerhouse Investment Fund and will deliver a £660 million commitment of new funding to smaller businesses.
The fund which now includes the whole of the North East aims to drive sustainable economic growth by supporting innovation and creating local opportunity for new and growing businesses across the North of England.
The Northern Powerhouse Investment Fund II offers a range of commercial finance options with smaller loans and debt finance from £25,000 to £2 million and equity investment up to £5 million. The fund covers the whole of the North, including rural, coastal and urban areas.
It is increasing the supply and diversity of early-stage finance for smaller businesses across the North of England, providing funds to businesses that might otherwise not receive investment and helping to break down barriers in access to finance.
The new fund has embedded ESG awareness into its design and will help support the UK economy’s transition to net zero.
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Latest News from the Northern Powerhouse Investment Fund II
Press release
Press release
Press release
Northern Powerhouse Investment Fund II Success Stories
Salesfire
Salesfire – a Middlesbrough company whose platform helps e-commerce stores to increase sales - has raised a further £2.75m from NPIF II – Mercia Equity Finance, which is managed by Mercia Ventures as part of the Northern Powerhouse Investment Fund II (NPIF II).
Claro Hill Vets
A North Yorkshire-based veterinary practice has secured £90,000 from NPIF II – BEF, which is managed by Business Enterprise Fund (BEF) as part of the Northern Powerhouse Investment Fund II (NPIF II). The funding also came from BEF’s Community Investment Enterprise Fund 2 (CIEF2) backed by Lloyds Bank and Better Society Capital.
Panacea Children Services
The North West’s leading provider of specialised therapeutic services for children has received a significant six figure investment to increase its number of homes in the North West to eleven as part of a three year strategic growth plan.
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