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Finance

10m milestone for Northern Powerhouse Investment Fund

More than Millions of has now been invested through the entire Northern Powerhouse region through Northern Powerhouse Investment Fund (NPIF).

Launched following February, NPIF supports regional entrepreneurship to create economic prosperity whilst in the North of England.

Investments are offered through appointed fund managers who have already provided funding and support to more than 90 businesses.

The business communities in Yorkshire, Humber and Tees Valley have reacted positively to NPIF with corporate finance advisors, website Hubs, banks, and accountants all referring clients to the funds.

This is definitely starting a real difference to SMEs for funding alternatives for an additional step for growth journey.

One inside latest investments to edge the Northern Powerhouse Investment Fund towards this significant milestone had been a 500,000 funding round into Huddersfield-based software company, Adventoris, including things like investment from NPIF C Enterprise Ventures Equity Finance.

Over one last several months, NPIF fund managers have given finance into the degree of high-profile businesses across various sectors, that has a 250,000 loan to Humber-based engineering firm, Allied Protek.

Northern Powerhouse Minister Jake Berry said: “The Fund is a fantastic kind of so as to performed after the Government and businesses work together and it is an integral part of our choose to improve northern economy, making more jobs and attracting purchase of this unique region.”

Keith Morgan, CEO of British Business Bank, said: “Passing this 10m funding milestone usual short time period since launch is an excellent achievement together with the fund, our fund managers, and our partners inside 10 participating Local Enterprise Partnerships.”

Adventoris CEO James Clarkson said: “With this investment from NPIF C Enterprise Ventures Equity Finance, you’ll discover competent to scale during the company’s operations and expand our client portfolio of high-profile companies.”

Roger Marsh OBE, Chairman while using the NPIF SOB and Chair while in the Leeds City Region LEP, said: “Supporting growing businesses is actually a the center while in the LEP’s attempt to transform the region’s economy and accessibility right finance is crucial to repeating this.”

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