The Northern Powerhouse Investment Fund II is now live

March 28th 2024

£660 million Northern Powerhouse Investment Fund II has launched, unlocking additional funding to help smaller businesses in the North prosper and thrive.

 

The Northern Powerhouse Investment Fund II aims to build on the success of the inaugural Northern Powerhouse Investment Fund, a £500m fund which has already supported hundreds of smaller businesses since its launch in 2017. The new fund will help hundreds more businesses to achieve their potential and further increase the supply and diversity of early-stage finance by providing options to firms that might otherwise be unable to secure investment.

 

The Northern Powerhouse Investment Fund II will build on the success of the first Northern Powerhouse Investment Fund and will deliver a £660 million commitment of new funding to smaller businesses.

 

The fund which now includes the whole of the North East aims to drive sustainable economic growth by supporting innovation and creating local opportunity for new and growing businesses across the North of England.

 

The Northern Powerhouse Investment Fund II offers a range of commercial finance options with smaller loans and debt finance from £25,000 to £2 million and equity investment up to £5 million. The fund covers the whole of the North, including rural, coastal and urban areas.

 

It is increasing the supply and diversity of early-stage finance for smaller businesses across the North of England, providing funds to businesses that might otherwise not receive investment and helping to break down barriers in access to finance.

 

The new fund has embedded ESG awareness into its design and will help support the UK economy’s transition to net zero.

 

Find out more here.