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19 May 2016

The North West Fund hits the £150m mark

Another milestone for The North West Fund


The North West Fund is delighted to announce that it has now exceeded the £150m mark having invested in over 440 of the regions businesses since 2010.


Since the Fund was established in 2010, it has had a significant impact on the North West economy, boosting GVA by £60m. This figure will continue to rise as investments continue to mature and grow.  


Over the last six years, the Fund has created and safeguarded 4,500 jobs and has leveraged an additional £140m in private sector finance.


The figures reflect the sustained success of the Fund, which has impacted businesses across a range of key North West   sectors, including technology, life sciences, energy, manufacturing, and digital and creative, to deliver growth objectives and expansion into new markets.  


It has worked with a number of highly successful businesses including Manchester-based consumer data specialist RealityMine, which was backed by The North West Fund for Digital & Creative in 2015. This led to the company being recognised for its outstanding growth and subsequently winning the 2016 Queen's Award for Enterprise.


The Fund has also helped other businesses succeed on the public markets after Manchester molecular diagnostics company Premaitha listed on AIM in 2014, along with Evgen, the Liverpool-based clinical drug development company, which was also admitted to AIM last year.


Cliff Maylor, CEO of The North West Fund, said: "Reaching this milestone is a fantastic achievement for The North West Fund and caps off a period of great success for the organisation and the management teams we work with.


"Our funding and strategic guidance has enabled businesses to expand into new markets, create additional jobs, along with developing new and existing products. I am certain that these success stories will continue to have a positive impact on the North West economy for many years to come."


The North West Fund is backed by the European Regional Development Fund and European Investment Bank.


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