FW Capital has expanded its North West team following its appointment to deliver investment to local businesses through the Northern Powerhouse Investment Fund II.
Joe O’Connor and Barry Wilson join FW Capital as Assistant Investment Executive and Investment Executive. Both will focus on providing funding to regional businesses from the new £75 million NPIF II – FW Capital Debt Finance, which is part of the Northern Powerhouse Investment Fund II (NPIF II).
Finance of £100,000 to £2 million is available to businesses with a focus on Cheshire, Cumbria, Greater Manchester, Lancashire and Merseyside. FW Capital was previously responsible for the successful delivery of the original £176 million NPIF - Debt Finance Fund.
An experienced banker, Joe O’Connor has over 10 years’ experience of working with businesses in relationship manager roles at HSBC across Retail and Commercial Banking. In his new role Joe will be based in FW Capital’s Preston office and is focused on identifying and supporting ambitious businesses in Lancashire and Cumbria with funding to assist their growth goals.
Barry Wilson also has an extensive banking background having worked for NatWest for over 42 years delivering financial solutions for businesses across many sectors. Based in FW Capital’s Liverpool office, he is responsible for providing NPIF II funding to businesses across Merseyside.
Gary Guest, Fund Director at FW Capital said: “Joe and Barry are valuable additions to our team, bringing a wealth of experience which will help businesses across the region. Both understand the obstacles faced by many businesses and in their new roles will seek opportunities to use the Northern Powerhouse Investment Fund II to back the next generation of high-potential businesses in the North West.”
Joe O’Connor, Assistant Investment Executive at FW Capital said: “I’m looking forward to getting back on the road to meet and support businesses across Lancashire and Cumbria. I was born and raised in Cumbria and live in Lancashire so it’s great to be able to give back to these areas and help drive growth using the NPIF II Fund. My banking background has given me a good understanding of how businesses approach their funding needs and growth ambitions. It’s exciting to join FW Capital and play an important role in providing funds to firms that might otherwise not receive investment and help to break down barriers in access to finance.”
Barry Wilson, Investment Executive at FW Capital added: “The addition of Joe and I to the team at FW Capital demonstrates their commitment to bringing in people with different skills to complement the existing team. This is an exciting new challenge for me using my experience in a different way to directly interact with businesses and provide vital finance to assist innovation and create local opportunities for new and growing businesses across the Merseyside area. I’m born and bred in Liverpool and keen to use my new role to assist the growth of the local economy.”
Simon Cunnington, Director at the British Business Bank said, “Experienced fund managers play a big part in providing businesses with access to finance and the addition of team members with the right mix of skills and experience will enable NPIF II to have a lasting impact on the business community in the North.”
“By leveraging the expertise of their team across the whole of the North West, FW Capital will be able to continue bridging the funding gap and support the development of a robust entrepreneurial ecosystem in the region."
The £660m Northern Powerhouse Investment Fund II (NPIFII) covers the entire North of England and provides loans from £25k to £2m and equity investment up to £5m to help a range of small and medium sized businesses to start up, scale up or stay ahead.
The Northern Powerhouse Investment Fund II aims to build on the success of the initial fund, with the purpose of driving 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 will increase the supply and diversity of early-stage finance for the North’s smaller businesses, providing funds to firms that might otherwise not receive investment and help to break down barriers in access to finance. FW Capital will provide debt finance options from £100,000 to £2million to businesses based in the North West of England.
