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Cheshire entrepreneurs have snapped up over £5.7m of funding
from The North West Fund since its launch, making the county the
second most active in the region for investments by The Fund.
The announcement comes as two of the region's leading
entrepreneurs are set to speak at The North West Fund's first
'Inspiring Entrepreneurs' event, which is being held in partnership
with the Cheshire Institute of Directors on Thursday 24 May at the
De Vere Village Hotel, Warrington.
Sandbach-based entrepreneur Joe O'Carroll, CEO of the UK's
leading bioenergy supplier, Imperative Energy, will talk about the
rapid growth of his cutting edge business and how, in February
2012, the company secured investment from The North West Fund for
Energy and Environmental, managed by CT Investment Partners. The
£185m North West Fund is financed by the European Regional
Development Fund and the European Investment Bank.
Cheshire resident, textile mogul and managing director of
Tarameen, Tariq Marfani, will then provide the audience with a
fascinating insight into the growth of his Manchester-based,
family-run packaging and textile import firm and its
diversification into the eco-friendly materials market.
Statistics from The North West Fund show that Cheshire is second
only to Merseyside, which is earmarked for 40 per cent of The Fund,
for the number of businesses that have secured finance through The
Fund and the total value of those investments. The county secured
£5.77m of investment in 26 businesses, representing a share of 28
per cent of total investments by The North West Fund at the end of
April 2012. A great achievement for the county, which
accounts for only 18 per cent of businesses in the region.
Recent investments in addition to the equity funding into
Imperative Energy are The North West Fund for Venture Capital's
£500,000 investment into Crewe-based optical coatings
manufacturer Power Vision and their £340,000 investment into Holmes
Chapel-based Tyres on the Drive, both through fund managers EV.
Andy Leach, CEO of North West Business Finance, which manages
The North West Fund, said: "Cheshire is clearly a region that has
the appetite for business growth and is looking to take advantage
of the opportunities that a volatile economy can offer by securing
investment. The event on the 24th May is a great
opportunity for Cheshire's entrepreneurs to get together to both
share ideas and hear from people that have successfully taken that
leap of faith in their businesses."
The Inspiring Entrepreneurs event in Warrington will begin at
7.45am and close at 9.30am. Attendees are asked to contact firstname.lastname@example.org or 0161
247 7634 to register.
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