FW Capital hits £100m milestone for Tees Valley investments
Tees Valley’s local economy has been boosted by £100m thanks to the impact of nearly 80 investments over 11 years by FW Capital.
The investments, valued at over £22.5m, have helped SMEs in the area leverage private sector investment totalling over £77m, creating nearly 500 new jobs and safeguarding more than 1,000.
The investment into Tees Valley has been delivered through two of the funds FW Capital has under management.
Nearly £16m was invested through the Northern Powerhouse Investment Fund – Debt Finance (NPIF) and a further £6.6m was invested through the Tees Valley Catalyst Fund (TVCF), which is managed on behalf of Tees Valley Business, the local growth hub for the Tees Valley and part of the Tees Valley Combined Authority.
Joanne Whitfield, FW Capital’s fund director, commented: “We’ve always been proud to be part of and support the business community in Teesside and it is fantastic to see the upward trajectory of this part of the region, which is testament to the hard work of Tees Valley Mayor Ben Houchen and his team.
“The investment into Teesside’s infrastructure will greatly improve connectivity. This is brilliant for the business base and its ability to compete so it’s no surprise confidence here is high.
“We want everyone to know we are here to provide support to SMEs as a long-term growth partner and while this £100m figure is an exceptional achievement, we’re now looking to do the same again.”
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