£100 million investment provides boost to Northern SMEs

SMEs across Northern England have benefitted from £100 million investment by FW Capital in the financial year ended 31st March 2022.

Loans by the fund manager totalling £35.5 million enabled SMEs in the region to access a further £69 million in co-investment from the private sector. Collectively, the investment has helped to create and support 1,677 jobs at Northern SMEs, a 79% increase on the previous year’s figures.

Finance has been delivered across three funds managed by FW Capital. The NPIF – FW Capital Debt Finance has funded £88 million with a focus on Cheshire, Cumbria, Greater Manchester, Lancashire, Merseyside, and the Tees Valley. The North East Property Fund has invested £12 million and a further £8 million 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. This fund helps businesses bid for new contracts by providing short-term loans. 

Gary Guest,  North West Fund Director at FW Capital said:

“The level of employment generated as a result of our investments has been impressive, particularly during this crucial period of recovery. Every business has been touched in some way by the events of the last two years and having access to capital has given many business owners the confidence to grow and seek out new contracts. This boosted job creation and the local economy.”

Joanne Whitfield, North East Fund Director at FW Capital said:

“£100m of investment funding to the region’s businesses is  testament to the thriving and passionate business owners we have in the North. Our aim is to support business growth and encourage job creation. We are very proud to see businesses we have supported emerging stronger from the pandemic and using our funding to give them the confidence to grow.”

Lancashire-based tech business Airship Interactive is one of the firms to have benefited from the funding, securing a £450,000 NPIF – FW Capital Debt Finance investment, enabling the business to create 50 new jobs in Lytham St Anne. CEO of Airship Interactive, Joe Harford, said:

“The gaming industry has been very strong over the last few years, and we have been able to capitalise on this further demand for our art services and increase our share of the market. Through continued investment we have built a highly skilled team of specialists complemented with the latest technology and equipment and this latest funding will allow us to expand the business even further. 

“We are working with major global gaming companies for some of the highest profile projects and now attract the best talent to join our team. FW Capital has provided exceptional support over the last two years and we’re delighted they are helping us with this next stage of growth. We’re really pleased to continue to work with them.”