£100m milestone for North West Fund

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The latest business news from lep.co.uk

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The North West Fund has passed another investment milestone, having now invested over £100 million in more than 300 businesses.

The investments have been made across Merseyside, Greater Manchester, Lancashire, Cheshire and Cumbria.

Private sector co-funding has contributed a further £50 million, bringing the total value of investments into North West businesses to £150 million. The Fund has also created or safeguarded more than 2,500 jobs, helping to deliver employment, skills and prosperity for the region.

The £155 million investment fund, which is supported by the European Investment Bank and European Regional Development Fund, provides debt and equity funding of between £25,000 and £2 million to small and medium sized enterprises (SMEs) in the North West. Earlier this month The Fund announced the launch of its Micro Fund, a new sub-fund specifically tailored to smaller investments.

Cliff Maylor, chief executive of North West Business Finance, which manages The North West Fund, said: “We are extremely pleased to have reached this significant milestone.

“£100 million is an impressive figure but we are equally proud of the fact that this has been invested into more than 300 growing businesses in the region.”