Monday, 5 August 2013

An update on the North West Fund

As we enter the summer months, we are pleased with the progress The North West Fund has made throughout 2013. The first six months of the year saw investments reach £16 million in 49 new investments and 31 follow-on investments.

Having supported a total of 193 businesses with £59 million over the last two and a half years The Fund is now well established in the region and we are incredibly proud of the progress stories we are hearing from our portfolio of businesses.

The pipeline for future investments is also looking strong and the interest from entrepreneurs has been very encouraging but we know that we still have a great deal of work to do to ensure that every penny of our £155 million is invested wisely for the benefit of the region.

Our fund managers have completed some great investments across the region in 2013, including;

• Investment of £500,000 from The North West Fund for Venture Capital into Fourteen-IP, a ‘management break-out’ team who set up their own business providing communications solutions for hotels;

• A £100,000 loan from The North West Fund for Loans Plus into Sefton-based CNC Robotics, a robotics company which uses software and robots to produce sculptures from a diverse range of materials;

• An investment by The North West Fund for Digital & Creative into Hulme-based software developer, Liquid Bronze. Its products enable domiciliary care agencies to efficiently co-ordinate and monitor their home-care staff, and for carers to securely access client records remotely;

• An investment by The North West Fund for Biomedical into Perfectus Biomed which specialises in microbiological testing and is based at Sci-Tech Daresbury; and

• A follow-on investment of £350,000 by The North West Fund for Energy & Environmental into Cheshire-based Imperative Energy, a supplier of bioenergy solutions to industrial, commercial and public sector clients in the UK and Ireland.

For more information please see our latest newsletter

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