Chester firm backs 22 North West innovators with £12m funding

Investment manager Deepbridge provided more than £12m in funding to North West businesses in 2017, according to new figures.

The Chester-based firm said it backed 22 companies in the region last year, with investments focusing on the technology and life sciences sectors through its Enterprise Investment Scheme (EIS) and Seed EIS (SEIS) offers.

Deepbridge said it has forged strategic partnerships with a number of organisations in the North West to broaden its investment spectrum, including Alder Hey Hospital in Liverpool, through which it supports the commercialisation of digital healthcare initiatives, and with science and innovation campus Sci-Tech Daresbury.

Ian Warwick, Deepbridge’s managing partner, said: “The North West of England is a hotbed of technology and life science innovation.

“It is therefore no surprise that Deepbridge has been able to support a number of companies in the region to find the funding they require to grow, create jobs and develop unique innovations which can be exported globally.”

Deepbridge currently operates four EIS/SEIS propositions; Deepbridge Technology Growth EIS, Deepbridge Life Sciences EIS, Deepbridge Life Sciences SEIS and the newly launched Deepbridge Innovation SEIS, which provides technology-focused companies with seed-stage funding.

Speaking further, Ian commented: “Last Autumn’s Budget reinforced the Government’s support for the Enterprise Investment Scheme and Seed EIS. The Chancellor also refocused EIS/SEIS investments towards ‘knowledge-intensive’ companies, with areas such as technology innovation and life sciences considered to be sectors which EIS/SEIS should be focusing on.

“In these sectors, the need for such funding has never been greater, nor have there been more opportunities for investors to make a real difference and share in the returns potentially available from supporting growth businesses.”

Among the North West companies Deepbridge worked with in 2017 were Manchester firm Zilico, Liverpool-based vTime, Stockport’s SurveyMe, Burnley business Connect Childcare and Liverpool ChiroChem.

Ian added: “We look forward to continuing to work with our strategic partners throughout the region during 2018, and beyond, in order to support the next generation of North West-based innovations.

“This is an exciting time for the North West region, for the tech and life sciences sectors and for Deepbridge.”