NPIF invests over £50m in SMEs

The Northern Powerhouse Investment Fund (NPIF) has provided more than £50m of finance to support over 260 SMEs across the region.

The announcement was made by Ken Cooper, managing director at the British Business Bank (pictured above, left), as he spoke to investee businesses, key stakeholders, partners and fund managers at NPIF’s one-year anniversary event in Leeds.

The £400m fund – which is supported by the European Regional Development Fund, HM Government and the European Investment Bank – was launched by the British Business Bank with the aim of delivering economic prosperity in the North of England.

 “NPIF investments have impacted all corners of the Northern Powerhouse area, unlocking finance for businesses across the North West, Yorkshire and the Humber and the Tees Valley,” said Ken.

“The success of NPIF has played a key role in our regional agenda of tackling historic regional disparities in funding, not just here in the Northern Powerhouse region but we have been able to build on the successful model used here to develop funds in the Midlands, through the Midlands Engine Investment Fund (MEIF) which we launched in February, and we will soon be launching a fund for Cornwall and Isles of Scilly.”

Pictured above, left to right: Ken Cooper, British Business Bank, Roger Marsh, chairman of the NPIF SOB and chair of the Leeds City Region Enterprise Partnership, Caroline Theobald, Bridge Club, Ash Lewis, AshTV, Amanda Hesketh, Hesketh James, Dr Gordon Barker, Microbiosensor

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