NPIF – FW Capital Debt Finance reports that it has passed the £15m investment milestone provided to growing SMEs in the Liverpool City Region since the fund launched in 2017.
NPIF – FW Capital Debt Finance is managed by FW Capital and part of the Northern Powerhouse Investment Fund. Its investments have also attracted co-investment of over £16m from the private sector, resulting in an impact on businesses in the region of over £30m.
Carol Bollard, investment executive at FW Capital, said: “Liverpool City Region has seen huge success in recent years with significant regeneration and business expansion. The funding we’ve delivered is designed to help businesses realise their potential and generate growth. This has a tremendous impact on the long-term benefits and future success of the region.”
One recipient of funding is Liverpool game developer and art outsourcing specialist Skyhook Games. The company secured a loan from FW Capital to expand its team of creative professionals and support its growth plans.
Graham Chellew, finance and operations director at Skyhook explained: “In 2019, Skyhook Games was in its fifth year and looking to grow, but capital and resource were our biggest barriers. At this time, we met FW Capital at a local networking event. Carol listened, understood our needs, and when others wouldn’t, were able to match our requirements offering a solution.
“In a fast paced digital environment, time is of the essence, so our successful application helped us take advantage of the commercial opportunities that lay ahead and secure a larger dedicated studio space. This was all pivotal in growing our headcount.”
Chellew added that the initial loan was repaid and later Skyhook approached FW Capital and received a second round of funding to support its next stage of growth.
NPIF – FW Capital Debt Finance provides loans across the NPIF region with a focus on Cheshire, Cumbria, Greater Manchester, Lancashire, Merseyside, and the Tees Valley. It manages the £172m NPIF – FW Capital Debt Finance fund, offering business loans from £100,000 – £750,000, on behalf of the British Business Bank, the European Regional Development Fund and the European Investment Bank. FW Capital is part of the DBW Group, one of the UK’s largest SME investors with over £1.9b under management.
