£40m funding boost unlocked as NPIF II North West fund manager celebrates 100th milestone

NPIF II - FW Capital Debt Finance, managed by FW Capital as part of the Northern Powerhouse Investment Fund II (NPIF II)  has reached a major milestone, supporting its 100th business while securing an additional £40million of NPIF II funding to back future growth across the North West.

The new funding brings the total managed by FW Capital for NPIF II in the North West from £75million to £115million, significantly expanding its capacity to help local companies scale, enter new markets, and create jobs.

Since launching in 2024, NPIF II - FW Capital Debt Finance has supported businesses across the North West with more than £44million, helping to create and safeguard 227 jobs. 

Cumbria-based leadership and management training specialist Dove Nest Group is the milestone 100th business supported by NPIF II – FW Capital Debt Finance. The firm recently secured a six-figure loan to drive its future growth, specifically investing in its residential training centre at Crosthwaite Mill.

Gary Guest, Fund Director at FW Capital, said: “Hitting the milestone of 100 businesses supported is a testament to the ambition of the North West business community. We are incredibly proud to celebrate this achievement alongside the announcement of an extra £40 million from the British Business Bank’s Northern Powerhouse Investment Fund II. This increase means we can significantly accelerate our support, providing the vital funding that local businesses need to unlock their next chapters of growth.”

Sue Barnard, Senior Investment Manager at the British Business Bank, added: “Reaching the milestone of 100 businesses supported demonstrates the real impact of the Northern Powerhouse Investment Fund II across the North West. The additional £40million will enable FW Capital to support even more ambitious businesses, helping them realise their growth potential, create jobs and contribute to the region’s economic success.”

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 purpose of the Northern Powerhouse Investment Fund II is 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 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.

NPIF II - FW Capital Debt Finance can provide loans in the NPIF II area with a primary focus on the North West regions of Cheshire, Cumbria, Greater Manchester, Lancashire and Merseyside.