FW Capital is increasing its investment activity across the North after receiving an additional £9.48m funding boost as part of the Northern Powerhouse Investment Fund (NPIF).
Paul Griffiths is also joining FW Capital as an investment executive, strengthening the North East team and bringing over 30 years’ financial services experience, having worked previously for Handelsbanken, Santander and HSBC. His most recent position was innovation manager at the University of Hull, working on the innovation and grant support programme Sparkfund.
Griffiths will be responsible for providing funding to Northern businesses from the Northern Powerhouse Investment Fund, including the latest £9.48m funding, which increases FW Capital’s Northern Powerhouse Investment Fund allocation to £172m, from a starting position of £102m when it was established in 2016.
Griffiths said: “The Northern Powerhouse Investment Fund is playing a key role in driving the growth of businesses across the North. I’m looking forward to working with business owners to support innovation and expansion, encouraging new jobs and opportunities which will support the local economy. I really enjoy getting under the skin of businesses and understanding how we can help them to reach their potential. My role at FW Capital will help me to develop this further.”
FW Capital manages the NPIF – FW Capital Debt Finance funds across the North, providing loans of £100,000 to £750,000 in the NPIF region with a focus on Cheshire, Cumbria, Greater Manchester, Lancashire, Merseyside, and the Tees Valley.
The Northern Powerhouse Investment Fund project draws funds from several sources, including UK Government, European Investment Bank, and British Business Bank. It is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020.
