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The North West Fund exceeds
another milestone
THE North West Fund has invested £20.9m
in businesses across the region in the 1st 9 months of 2015, signalling an
increased appetite from North West companies looking to obtain funding.
In the last 3 months of the year, the Fund has invested £5.6m into local
companies; a 47% increase on the £3.8m invested over the same period last year.
Cliff Maylor, CEO of The North West Fund, said:- "These results are
testament to the hard work and commitment of each of our individual fund
managers. We are now on track for a strong Q4 with some exciting deals in the
pipeline, and we're confident that we will achieve our goal of £32m invested by
the end of 2015."
The North West Fund, which is supported by the European Investment Bank and
European Regional Development Fund, typically provides finance from £25,000 to
£2m for businesses. Since its inception in 2010, the Fund has provided in excess
of over £132m into over 400 companies in the North West of England.
A recent investment includes the £250,000 equity funding to Macclesfield based
music technology company Beatroot Music from:- 'The North West Fund for Digital
and
Creative'. This will enable the firm to expand its team, enhance its
infrastructure and roll out its services across the music industry.
The Loans Plus Fund, managed by FW Capital, has also provided a £250,000 boost
to Jones AV, an international medical systems integrator based in Birkenhead.
Maylor added:- "The breadth of companies that we get to work with is what
makes it so exciting. The recent Conservative Party Conference has served as a
significant boost for the North West and has provided us with an excellent
platform to continue our work with some of the most ambitious businesses in the
local area." |
