7,500 Northern jobs secured as FW Capital marks 10 years since launch
Thousands of jobs and almost half a billion pounds of support have been secured since the launch of a Northern investment specialist a decade ago.
FW Capital, which supports businesses across the North East and Yorkshire, marks its 10 year anniversary with a duo of employment and investment milestones.
During its ten years of support for SMEs across the North, FW Capital has loaned more than £170m to over 650 businesses, and has leveraged private sector investment of over £300m. These investments have helped to create safeguard around 7,500 jobs across the regions.
FW Capital has managed seven funds over the last decade and currently has £207m of funds under management.
The largest of these include two Northern Powerhouse Investment Funds – Debt Finance (NPIF), totalling £142.6m across the two funds to invest with a focus on supporting businesses in Cheshire, Cumbria, Greater Manchester, Lancashire, Liverpool City Region and the Tees Valley.
Mitesh Dhanak, managing director of FW Capital-backed business Cenergist, explained: “From the first investment FW Capital made into Cenergist in 2015, to the most recent funding, our long-term partnership has helped us to realise our growth ambitions, generate significant turnover and increase our workforce from 5 to 45 people worldwide.”
Joanne Whitfield, FW Capital’s fund director for Tees Valley, commented: “For over ten years, FW Capital has supported businesses, resulting in nearly half a billion pounds of investment in the North of England and helping to create thousands of local jobs.
“It is great to reach this milestone anniversary having made such a positive contribution to building a strong economy for those who live and work in our region.”
Grant Peggie, director at British Business Bank, added: “Since 2017 we have worked with FW Capital on the Northern Powerhouse Investment Fund, ensuring the delivery of vital investment to ambitious businesses across the North.
“The results of this partnership speak for itself, as it has fueled growth plans, created jobs and made a real impact on regional business communities.
“We will continue to work closely with FW Capital and our other fund managers to boost the regional economy, and would like to congratulate the team on this anniversary.”
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