What is Northern Powerhouse Investment Fund?

For over five years Maven and the Northern Powerhouse Investment Fund have been working in collaboration to help ambitious businesses to grow.

Introduction

In this video, Sean Hutchinson, Senior Investment Manager at the British Business Bank, alongside key members from Maven’s investment team, outline the benefits of businesses utilising the equity funding that is available through the Northern Powerhouse Investment Fund.

Watch the key members that manage the Northern Powerhouse Investment Fund highlight the ways in which innovative, local companies seek this type of funding and how it has helped them execute a range of strategic objectives.

Transcript

Sean Hutchinson: So the Northern Powerhouse Investment Fund is a £500 million commercially focused fund offering micro finance, debt and Equity Finance. It's a collaboration between the British business Bank and 10 Local Enterprise Partnerships across the Northwest, Yorkshire, and the Humber and the Tees Valley

Jeremy Thompson: The North West is just a really strong region you've got you've got the big cities like Leeds and Manchester but you've also got some real gems of businesses out in places like Cumbria and Skelmersdale, Lancashire it's not just technology and software there's manufacturing businesses engineering businesses and it's kind of our job is to is to go and find those businesses and make sure they know the funding's available.

James Rosthorn: There's a lot of potential for the region I think it's the trouble that it's had is it's been underfunded historically a lot of the Venture Capital money has gone into London and the south west and I think there's been a real gap for businesses in that region kind of going up to a million pound Ari above kind of revenues and what NPIF has allowed is to fill that Gap.

Nikola Clarke: So we can fund businesses right from start-up and an early stage investment from £50 000 upwards with the NPIF fund right up to 2 million and then in the later stages of that we can combine with the VCT funds and we can kind of see them through the life of the investment cycle.

Alex Rothwell: Maven’s deal team in the Northwest has significant experience in supporting early stage businesses through Equity investment. We work with them and help them grow both their turnover and ultimately towards profitability we take great pride in supporting our businesses to exit to further investment or ultimately to be a standalone business in their own right.

Jeremy Thompson: Some of the benefits you get from working with Maven are we've got a huge portfolio we've got UK wide coverage we've got boots on the ground in almost every region of the UK and we really try to bring our Network and our portfolio to bare for the benefit of the companies we invest in.

James Rosthorn: Funders perform brilliantly today we've supported around 70 business to date. it businesses that are early stage start-up, businesses with four of five employees, that are just about generating Revenue up to businesses that have got turnover up to maybe five six million in kind of revenues really.

Alex Rothwell: we also want to continue supporting the creation of jobs in the region we've created over a thousand through this fund to date and we want that to continue going up.

Ryan Bevington: We’re certainly looking forward we've got 20 to 25 million left to invest from the fund through to December 23. Our aim over that period is to is to help as many ambitious young growth companies as we can.