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NPIF II funding boost supports Airship Interactive’s expansion to Alderley Park

Press release 23 January 2025

Airship Interactive, an award-winning external development company, has received a six-figure investment to support its significant growth with the opening of an 8,000 sq ft office at Bruntwood SciTech’s Glasshouse at Alderley Park in South Manchester. 

Portrait of the team from Airship Interactive

The funding has been provided by NPIF II – FW Capital Debt Finance, which is managed by FW Capital as part of the Northern Powerhouse Investment Fund II (NPIF II). It has supported Airship Interactive’s relocation from its previous HQ in Lytham St. Annes to a new, larger site at Alderley Park that accommodates the firm’s rapid growth and sees the creation of nine new jobs.

Airship Interactive is a world class external development company which provides art services for some of the world’s largest gaming companies including Disney, Microsoft, Blizzard, 2KGames and Sony Playstation Studios. It has successfully earned a reputation as one of the leading art production studios for the games industry by being at the forefront of research and development into new design and production techniques.

Airship Interactive was set up in 2008 by CEO Joe Harford. This is the third round of investment the business has received from FW Capital, which provided backing in 2020 and 2022 from the first Northern Powerhouse Investment Fund, to assist growth and job creation.

Joe Harford, CEO of Airship Interactive, said:

When we first started working with FW Capital four years ago, we had 15 staff and sales of £1m. Today we’ve scaled the business to employ over 85 staff, 50 global contractors and sales of circa £9m. This is testament to the hard work and expertise of our team and the ongoing evolution of gaming systems and software.

The increased demand for our services meant we needed to expand to larger premises. The Glasshouse development at Alderley Park has been specifically designed for hi-tech, innovative and creative companies so it’s great to be part of a thriving tech community. We’re working with major global gaming companies for some of the highest profile projects and thanks to this substantial investment we can continue to attract the best talent to join our team. FW Capital has provided great support over the last few years, and we’re really pleased to continue to work with them.

Alistair Igo, FW Capital’s Portfolio Executive, said:

Airship Interactive is an impressive business that continues to record significant growth. I’m thrilled to support Joe and the team with this latest round of funding which has seen the business expand into a new office and create further new jobs. The business is thriving and supporting growing businesses like Airship Interactive is exactly what NPIF II is all about.

Sue Barnard, senior manager at the British Business Bank, said:

The ongoing support through both the first NPIF and now NPIF II shows how funding is here for businesses throughout their whole growth journey. It’s brilliant to see businesses like Airship Interactive continue to scale, using NPIF II funding to support further team expansion, unlocking potential and driving forward innovation in the region. We wish Joe and the team all the best in their new premises and their continued success in placing the region on the global map in world of gaming.

The £660m Northern Powerhouse Investment Fund II (NPIF II) covers the entire North of England and provides loans from £25k to £2m and equity investment up to £5m to help a range of small and medium sized businesses to start up, scale up or stay ahead.

The Northern Powerhouse Investment Fund II aims to build on the success of the initial fund, with the purpose of driving 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 will increase the supply and diversity of early-stage finance for the North’s smaller businesses, providing funds to firms that might otherwise not receive investment and help to break down barriers in access to finance.  FW Capital will provide debt finance options from £100,000 to £2million to businesses based in the North West of England, with some flexibility to lend across the North.

Further Information

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Notes to editors

The Northern Powerhouse Investment Fund II (NPIF II)

NPIF II is a £660 million investment fund to support the growth of small and medium-sized businesses across the North of England launched in March 2024.

The Northern Powerhouse Investment Fund II is one of a series of new Nations and Regions Investment Funds launched by the British Business Bank delivering a £1.6 billion commitment of new funding to drive sustainable economic growth.

The Northern Powerhouse Investment Fund II offers a range of commercial finance options with loans from £25,000 to £2 million and equity investment up to £5 million. The fund covers the entire North of England including Greater Manchester, Liverpool City Region, Lancashire, Yorkshire & the Humber, Cheshire & Warrington, Cumbria, County Durham, Tyne & Wear, and Northumberland.

It aims to tackle an identified funding gap between the North and South of England and increase the supply and diversity of early-stage finance for smaller businesses.

FW Capital manages the £75 million NPIF II – FW Capital Debt Finance fund, part of the Northern Powerhouse Investment Fund II  on behalf of the British Business Bank. Finance of £100,000 to £2 million is available to businesses in the North of England with a focus on Cheshire, Cumbria, Greater Manchester, Lancashire and Merseyside.
 

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