North West Fund passes £20m investment milestone

The North West Fund (NWF) has hit a new eight-figure milestone in its drive to invest in businesses across the region.

Between January and September this year, the organisation invested £20.9m in North West companies. Around £5.6m of that total was invested in Q3 alone, which is 47% more than the £3.8m provided during the same three-month period in 2014.

The North West Fund’s CEO, Cliff Maylor, said: “These results are testament to the hard work and commitment of each of our individual fund managers.

“We are now on track for a strong Q4 with some exciting deals in the pipeline, and we’re confident that we will achieve our goal of £32m invested by the end of 2015.”

At the end of August, the North West Fund for Digital & Creative provided £250k in equity funding to Beatroot Music, a music technology company based in Macclesfield.

Elsewhere, the Loans Plus Fund provided a £250k Birkenhead-based boost to medical systems integrator Jones AV.

Cliff continued: “The breadth of companies that we get to work with is what makes it so exciting.

“The recent Conservative Party Conference has served as a significant boost for the North West and has provided us with an excellent platform to continue our work with some of the most ambitious businesses in the local area.”

With the support of the European Regional Development Fund and the European Investment Bank, the NWF typically offers business finance ranging from £25k to £2m.

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