Mercia Fund Managers, which controls part of the Northern Powerhouse Investment Fund has passed the £5m mark.
The company manages funds earmarked for business in Yorkshire, the Humber and Tees Valley.
“This milestone is a significant one which demonstrates that the Northern Powerhouse Investment Fund (NPIF) is succeeding in its aim to support the northern SME community with the funds needed to fuel their ambitions,” stated Ken Cooper, managing director at British Business Bank.
“We have seen many innovative and ambitious businesses choose NPIF as an option for finance, and we look forward to seeing many more as we approach the one-year anniversary of the fund.”
Some of the investments include Wakefield print company Pinheiros Post Press and video advertising start up, Ash TV in Hull.
“Working closely with our partners from the advisory community, business growth hubs, and local enterprise partnerships, we have been able to get our operations underway very quickly to ensure the funding reaches the region’s businesses without delay. We look forward to working with more ambitious companies seeking funding for growth,” added Julian Viggars, NPIF equity fund manager and head of technology investments at Mercia Fund Managers.
The fund is supported by the European Union, using its European Regional Development Fund (ERDF).
