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28 January 2014

Building momentum for another strong year

The North West Fund celebrated a number of key milestones in 2013 and completed the 12 months to December, investing £36 million in 95 businesses...

 Fund review

We are now over 50% invested, having supported over 235 businesses with £79 million and we are extremely pleased that this investment has been matched by over £45 million in private sector finance.

Through our portfolio of over 235 businesses we have also created or safeguarded more than 2,000 jobs, helping to deliver employment, skills and prosperity for the region.

It is clear to us that the North West is a great place to do business, with a strong commercial culture, exceptional facilities and the strengths demonstrated by key sectors. The quality of businesses in the region is very high and the appetite for growth is prevalent. Our fund managers have supported 95 high quality businesses throughout 2013, highlights of which include;

 

  • Investment of £500,000 from The North West Fund for Venture Capital, into Fourteen IP Limited, a 'management-breakout' team who set up their own business providing communications solutions for hotels;
  • A loan of £250,000 from The North West Fund for Loans Plus into JE Wilson, a Kendal-based manufacturer which produces and sells Kendal Mint Cake, Duncan's of Scotland, Creative Confectionery, Lakeland Maid and Coco Lane brands;  
  • Investment of £900,000 by The North West Fund for Mezzanine into Merseyside manufacturer, ChargePoint Technology which supplies precision containment valves to some of the world's largest pharmaceutical and chemicals businesses;
  • The North West Fund for Digital & Creative's investment into RealityMine, a Manchester-based developer which has built a platform for market researchers to analyse the mobile activity of opted-in panellists; 
  • A £400,000 investment by The North West Fund for Biomedical into Absynth Biologics Ltd, which is developing vaccines and antibodies to treat bacterial infections. The company has also recently been awarded a £1.5 million grant from the Biomedical Catalyst programme as well as receiving investment from Fusion IP; 
  • A £550,000 investment from The North West Fund for Energy & Environmental into Merseyside-based Ultromex, which has developed a market-leading processes for the recovery of high-value metals from electronic and industrial waste products. 

As we enter the fourth year of The Fund we are keen to build on our momentum and given the high quality of our investment pipeline we are extremely optimistic about the prospect for 2014 with anticipated investment levels of £41 million for the year.

We look forward to another year of investments into new and existing businesses. We have no doubt that 2014 will provide many opportunities for ambitious enterprises to become the investments that we will be talking about in years to come - and for the people behind these businesses to be the entrepreneurs who inspire the next generation of talent.

Introducing micro finance for North West businesses

We are pleased to announce that in early 2014 we will be launching a new sub-fund, specifically tailored to smaller investments. The North West Fund for Micro Loans will offer businesses in the region the option of finance starting from £25,000 up to £50,000.

Businesses will be able to apply for the finance online soon and we will be hosting a launch event in due course to allow entrepreneurs and intermediaries the chance to speak directly to the fund managers for further information. 

The funding will support growing businesses looking for smaller investments to drive their growth plans and is part of our on-going recognition of the changing needs and demands of the region's businesses.

 

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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