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NPIF II strikes first deal in the North West with specialist laboratory education provider

Press release 15 July 2024

The Northern Powerhouse Investment Fund II (NPIF II) has completed its first deal in the North West since the launch of the £660m fund in March this year.  

Based in Liverpool, BioGrad Education, a specialist laboratory education provider, has raised a six figure investment from NPIF II – FW Capital Debt Finance, managed by FW Capital and part of the Northern Powerhouse Investment Fund II.

Building on the first Northern Powerhouse Investment Fund, businesses across the North can now access up to £2m in debt finance through NPIF II, to start up, scale up or continue their growth journey.

With the funding from NPIF II, BioGrad Education will be able to create multiple new jobs and purchase equipment to help the team tender for new contracts.

Run by industry leading scientists, the business offers a unique set of laboratory and clinic-based training courses that inspire and train the next generation of people working in STEM. Courses range from Level 3 (A Level) up to Level 7 (Postgraduate) in its state-of-the-art facilities at Liverpool Science Park.

The investment is also providing working capital to enable the delivery of Skills Bootcamps across the UK. These will include practical and theory sessions to help students to apply the techniques learnt into a practical laboratory setting, preparing them for the workplace. The Skills Bootcamps are free courses for adults, co-designed and shaped with employers to respond to skills shortages through flexible training.

We’re offering students the opportunity to access cutting edge science. There isn’t a one size fits all route into research, science and medicine but our training courses provide students with pre-experiences, spending time in laboratories with scientists. We’re excited about developing the Skills Bootcamps and are focused on further business growth. The support from NPIF II and Caroline Turley at FW Capital has been instrumental. She’s really taken the time to immerse herself in our business and understand our future goals. Dr Natalie Kenny CEO of the BioGrad Group
Natalie and the team at BioGrad Education are passionate and entrepreneurial, leading their field in scientific advances and healthcare education. Their approach to helping young people in the STEM field is inspiring and the team has won a number of awards recognising their innovation and leadership. I’ve enjoyed working with Natalie and the team, learning more about their future ambitions. BioGrad Education is a great example of a thriving scientific business within the Liverpool City Region. This investment is providing an important boost to the BioGrad Group’s growth strategy, providing a platform from which to drive the business even further forward. Caroline Turley Investment Executive at FW Capital
BioGrad Education is the first in what will be a long list of entrepreneurial Northern businesses supported by NPIF II. The Northern Powerhouse Investment Fund II exists to enable businesses in the North to access the funding they need to grow and BioGrad is a great example of how access to the right funding can be transformative for companies with vision and ambition. By providing the investment to enable BioGrad to expand and create new opportunities, we are backing them to support future talent and address a critical skills shortage. We look forward to seeing the positive impact this business makes on both the local economy and the broader STEM community. Ken Cooper Managing Director at the British Business Bank

Further Information

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Notes to editors

About BioGrad Education

BioGrad Education is part of the BioGrad Group and was established in 2014. Under the leadership of CEO Dr. Natalie Kenny, Managing Director Matthew Fagan and Clinical Director Jay Fitzgerald, the group has undergone a transformative journey spanning almost 10 years. The BioGrad Group has enjoyed impressive growth in recent years and is today at the forefront of advancements in science and healthcare education, regenerative medicine, clinical research, biobanking, and numerous other innovative scientific and medical fields.

The BioGrad Group comprises several divisions: BioGrad Education, a leading provider of gold-standard practical laboratory and clinical skills training; BioGrad Biobank, offering regulatory-compliant storage solutions and distribution of high-quality biological samples for research and commercial purposes; BioGrad Prenatal, a private stem cell banking centre; and BioGrad Foundation, a charity specialising in regenerative medicine research, dedicated to advancing cures for illnesses and diseases. 

About the Northern Powerhouse Investment Fund II

Operated by the British Business Bank, the Northern Powerhouse Investment Fund II (NPIF II) provides a mix of debt and equity funding.  NPIF II will offer a range of commercial finance options with smaller loans from £25k to £100k, debt finance from £100k to £2m and equity investment up to £5 million. It works alongside the Combined Authorities, Local Enterprise Partnerships (LEPs), and Growth Hubs, as well as local intermediaries such as accountants, fund managers and banks, to support the North’s smaller businesses at all stages of their development. 

The funds in which the NPIF II invests are open to businesses with material operations, or planning to open material operations, in: Cheshire, Cumbria, Greater Manchester, Lancashire, Merseyside, City of Kingston upon Hull, East Riding of Yorkshire, North Yorkshire, South Yorkshire, West Yorkshire, Hartlepool and Stockton-on-Tees, South Teesside, Darlington, Durham, Northumberland, Tyneside, Sunderland. 

For investment by NRIL at the sub-fund level
The investment from the Nations and Regions Investments Limited into [.] does not amount to any endorsement or warranty from Nations and Regions Investments Limited, the British Business Bank plc or the government of the United Kingdom.

For investment by NPIF II sub-fund at the investee company level The investment from the Northern Powerhouse Investment Fund II into [.] does not amount to any endorsement or warranty from Nations and Regions Investments Limited, the British Business Bank plc or the government of the United Kingdom.

Smaller Loans from £25,000 to £100,000 – GC Business Finance & River Capital (North West), Business Enterprise Fund (BEF) (Yorkshire and Humber) and NEL Fund Managers (North East)

Business Loans from £100,000 to £2m – FW Capital (North West), Mercia (Yorkshire and Humber) and NEL Fund Managers (North East)

Equity Finance up to £5m  – Prateura Ventures (North West), Mercia (Yorkshire and Humber), and Maven Capital Partners (North East)

Applications for funding are made directly to the relevant fund managers who can be contacted via the NPIF II webpages www.northernpowerhouseinvestment fund.co.uk

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