NPIF II delivers £275 million regional boost

A regional investment programme has helped hundreds of North East businesses secure funding to support expansion, innovation and job creation over the past two years.

The Northern Powerhouse Investment Fund II (NPIF II) has backed more than 400 businesses across the North East since launching in 2024, facilitating almost £275 million of investment through 449 deals.

More than £151 million of direct funding has also unlocked a further £122 million in private sector investment, supporting businesses across a range of sectors including technology, construction and professional services.

Delivered in the North East by NEL Fund Managers and Maven, NPIF II provides loans ranging from £25,000 to £2 million and equity investments of up to £5 million, helping SMEs to start, scale and innovate, “creating opportunities for local entrepreneurs” across the North.

Among the businesses who have been supported by the fund is Newcastle-based MySalesCoach, which secured £1 million from NPIF II – Maven Equity Finance alongside £500,000 from existing investors.

The company, which combines AI with expert sales coaching, will use the funding to develop its technology platform and support international growth ambitions.

South Shields plant hire business Mechplant also secured backing through NPIF II – NEL Debt Finance to expand its operational capacity and invest in new equipment as demand grows across the construction and civil engineering sectors.

Elsewhere, female-led consultancy Simplified Operations received funding through NPIF II – NEL Smaller Loans to launch its new Operations Academy, aimed at helping SMEs build scalable operations and strengthen long-term performance.

The fund forms part of wider efforts to support high-growth businesses and drive economic development across the North.

Mark Sterritt, senior investment director at the British Business Bank, said: “The North East is home to some of the UK’s most innovative, forward-thinking businesses, and over the last two years it’s been incredible to see how many we’ve supported through NPIF II. 

“From businesses driving growth in the construction and civil engineering sector, to female founders creating solutions for other businesses to thrive, we’re committed to backing entrepreneurs who are making a real difference and pushing the North East forwards.

“The launch of the UK’s Modern Industrial Strategy has provided us with a clear framework under which we can support high growth Northern businesses, ensuring our region can compete on a national scale. 

“We’re helping to build a strong investment ecosystem, working across innovation clusters and growth corridors, all ensuring that Northern entrepreneurs can access the capital they need to drive sustainable, long-term growth.”

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