Two years on from its launch, the Northern Powerhouse Investment Fund II (NPIF II) is continuing to build momentum across the North East, having supported more than 400 ambitious businesses and facilitated almost £275m of investment.
Completed across 449 deals, the Fund is playing a vital role in boosting regional growth, while crowding in private sector co-investment. More than £151.3m in direct investment across the region has helped to unlock an additional £122.6m from the private sector, delivering capital that northern businesses may not have otherwise been able to access.
Over the last two years, the Fund has supported a diverse range of businesses through debt and equity investment, helping them to achieve their growth ambitions and bring innovative ideas to market.
As a fund manager for NPIF II, Maven continues to play an active role in driving long-term economic growth across the North. The Fund is closely aligned with the UK’s Modern Industrial Strategy, prioritising investment into high-growth sectors that can contribute to productivity, innovation and UK-wide economic performance.
A recent example is the investment made through NPIF II - Maven Equity Finance into Newcastle-based MySalesCoach Limited, which secured a £1 million investment, alongside £500,000 from existing investors Northstar Ventures and Creative UK’s North East Fund. MySalesCoach delivers a Sales Coaching Operating System that combines expert sales coaches with AI-driven technology.
This investment strongly aligns with the UK’s Industrial Strategy, particularly its focus on innovative digital technologies. The funding will support the continued development of MySalesCoach’s technology platform, alongside expanded sales and marketing activity, as the business targets international growth.
Through investments such as this, NPIF II continues to demonstrate its impact, backing ambitious businesses, leveraging private capital and supporting innovation-led growth across the North.
"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."
Mark Sterritt, Senior Investment Director at the British Business Bank
Through the Fund Maven has backed high-tech space communications firm, aXenic, engineer specialist, Dyer, specialist contract research organisation, Magnitude Bioscience, FinTech specialist, Kani Payments, food and beverage canning business, CRL Foods, and Radio-frequency identification (RFID) innovator, PervasID.
NPIF II - Maven Equity Finance can provide investment of up to £5 million to support ambitious earlier and later stage businesses across the North East of England. If your business, or the business you advise, is looking for an equity investment as a solution to fund future growth, get in touch here >