The British Business Bank
The British Business Bank is 100% Government owned, but independently managed. It brings expertise and Government money to the smaller business finance markets. The British Business Bank doesn't lend or invest directly; instead it works with partners such as banks, leasing companies, venture capital funds and web-based platforms.
The South West Investment Fund (SWIF), launched by the British Business Bank in 2023, is a £200 million commitment of new funding to small and medium sized businesses covering the entire South West of England.
The Investment Fund for Wales (IFW) launched in 2023, is a £130 million investment fund, aimed at driving the growth of small and medium-sized businesses in Wales.
The Northern Powerhouse Investment Fund II (NPIF II) is a £660 million investment fund supporting the growth of small and medium-sized businesses across the North of England. NPIF II launched in March 2024.
SWIF, IFW and NPIF II are part of a series of Nations and Regions Investment Funds launched by the British Business Bank delivering a £1.6 billion commitment of new funding to smaller businesses across the UK.
Tees Valley Combined Authority
The Tees Valley Combined Authority was created in April 2016. Its purpose is to drive economic growth and job creation in the area. It is a partnership of five authorities; Darlington, Hartlepool, Middlesbrough, Redcar & Cleveland and Stockton-on-Tees, working closely with the Local Enterprise Partnership, wider business community and other partners to make local decisions to support the growth of their economy. Under the devolution deal with Government, they are taking on responsibilities previously held by Westminster and Whitehall; for transport, infrastructure, skills, business investment, housing and culture and tourism.
In 2013, Tees Valley Unlimited, now part of the Tees Valley Combined Authority, appointed FW Capital to manage the Tees Valley Catalyst Fund which closed to new applications on 31st March 2023.
North East Local Enterprise Partnership
The North East Local Enterprise Partnership (North East LEP) is a public, private and education sector partnership.
They are one of thirty-eight LEPs in the country and are responsible for promoting and developing economic growth in the local authority areas of County Durham, Gateshead, Newcastle, North Tyneside, Northumberland, South Tyneside and Sunderland. They are governed by a board comprised of business leaders, education providers, economic experts and local authorities.
The North East LEP is an investor in the North East Property Fund and the North East Commercial Property Investment Fund, both managed by FW Capital.
North West Business Finance
North West Business Finance Limited is an independent, private sector, not-for-profit company, limited by guarantee, established to oversee the delivery of the North West Fund.
The company is governed by an independent Board with a non-executive chairman. The Board has appointed an independent Board with a non-executive chairman. The Board appointed an independent Investment Advisory Board to advise on ongoing performance of the North West Fund. Individual appointments to the Investment Advisory Panel have been made based on expertise in either private equity, venture capital or the specific sectors targeted by the North West Fund.
North East Finance
North East Finance (NEF) is the holding fund manager of the £159.5m Finance for Business North East (FBNE) programme: a suite of seven venture capital and loan funds, including the North East Growth Plus Fund, which NEF established in 2010. The funds, now fully invested, provided investment for start-up and growing businesses in the North East of England.
The FBNE programme is funded by the North East of England European Regional Development Fund programme, the European Investment Bank and the UK government. It was established under the JEREMIE initiative: a joint initiative of the European Commission and the European Investment Bank which stands for Joint European Resources for Micro to Medium Enterprises.
Teesside Pension Fund
The Teesside Pension Fund is the Local Government Pension Scheme (LGPS) for local authority employees (or employees working for a body that is eligible to participate) in the Teesside region.
FW Capital manages the £20 million Teesside Flexible Investment Fund with investment from Teesside Pension Fund.
