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28 April 2015

Inspiring Entrepreneurs and Financing Ambition

As we push past the half-year mark for 2015, we are delighted to have exceeded the £125m investment milestone.

 Fund review summer 2015

As we push past the half-year mark for 2015, we are delighted to have exceeded the £125m investment milestone. Our Fund managers have supported more than 375 of the region's growing businesses and have created or safeguarded over 3,500 jobs in the process. We have leveraged a further £95m in private sector finance, which has had a significant impact on the North West economy. In turn, this has increased gross value added (GVA) by £60m - a figure that will continue to rise as our investments mature. Our fund managers have made investments in a broad range of high quality businesses since the inception of the Fund.
Key highlights include:

• A £650,000 investment in Carlisle-based EcoLogicLiving from The North West Fund for Energy & Environmental, helping the business achieve turnover of £4.5m.
• An investment from The North West Fund for Digital & Creative in Burnley-based systems developer Connect Technology Group, to support new product development to capitalise on the UK childcare sector.
• Two rounds of £50,000 in Warrington-based bespoke microbiological testing business, Perfectus Biomed, from The North West Fund for Biomedical.
• A £750,000 investment in Manchester-based Reality Mine, a leading provider of mobile research technologies and behavioural data, helping the business target expansion overseas. The funding package was provided by The North West Fund for Digital & Creative.
• A six-figure investment from The North West Fund for venture Capital in University of Liverpool spin-out, Fusion Implants, to develop a surgical implant to cure lameness and restore mobility in dogs.

These investments have helped to drive us towards our latest milestone, which is not only a fantastic achievement for the Fund, but it has put us in touch with a range of high quality management teams. We're already noticing the significant impact that the Fund is having on the region's businesses and the wider North West economy.

The number of jobs created is a reflection of how hard our sub-funds have been working to impact businesses at different stages in their lifecycles. As well as making new investments, we have also provided a number of companies with follow-on funding to support their long-term business objectives.

It's also great news that our Micro Loans Fund has exceeded the £1m mark, having provided loans to help 28 of the region's small businesses.New and growing small businesses are the lifeblood of any economy, but they can often find it hard to access funding, so the Micro Loans Fund has a big role to play in meeting their needs and filling that gap. As the economy remains in good shape and business confidence is high, it is important that we keep offering an attractive alternative to lending. With more funds left to deploy, we are working very closely with our stakeholders and the Local Enterprise Partnerships to drive growth and deliver prosperity for the North West long into the future.  

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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