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28 January 2013

Looking forward to continued strong growth

"Since The Fund launched in 2010, we have been delighted by the quality of applications from businesses in the region."

Review

The North West Fund enjoyed a strong 2012 after investing £32million in 95 businesses across the region. In total, our six sub-funds have invested £43million into 146 businesses across Merseyside, Greater Manchester, Lancashire, Cheshire and Cumbria.

Through our investments, we have created or safeguarded more than 1,000 jobs in the region. Approximately 850 of these jobs have been created or safeguarded in 2012.

The pipeline of future deals is also looking strong for 2013, with more investments to be made across the region by our dedicated sub-funds for Business Loans, Venture Capital, Development Capital, Energy & Environmental, Biomedical and Digital & Creative.

Key investments completed during 2012 included:

  • A £190,000 loan by The North West Fund for Business Loans, managed by FW Capital, into Cheshire-based, Mattroe, which supplies North West Housing Associations and Trusts with white goods and furniture for their social housing
    schemes;
  • A significant investment by The North West Fund for Venture Capital, managed by Enterprise Ventures, into Salford Quays-based online payment provider App55 to develop new smartphone, tablets and computer payment products;
  • A six-figure investment by The North West Fund for Digital & Creative, managed by AXM Venture Capital, into Liverpool-based software firm Setgo to help the business further develop its software solutions;
  • An investment by The North West Fund for Biomedical, managed by SPARK Impact, into BioOxyDyn, an advanced medical imaging company based at Manchester Science Park; and
  • A £550,000 investment by The North West Fund for Energy & Environmental, managed by CT Investment Partners, into Merseyside-based Ultromex, which has developed market-leading processes for the recovery of high-value metals from electronic and industrial waste products.

Since The Fund launched in 2010, we have been delighted by the quality of applications from businesses in the region. We are beginning to see the significant impact that The Fund is having on the North West economy with all of the sub-funds already making follow-on investments.

As the largest fund of its kind in the UK, The North West Fund provides an incredible opportunity for businesses in the region. Given the high quality of our investment pipeline we are extremely optimistic about the prospects for 2013 as a whole and we anticipate investment levels of £35million for the year.

If you are interested in finding out more about equity/loan funding to help grow your business please visit: http://www.thenorthwestfund.co.uk/funds




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