British Business Bank-backed £660m NPIF II launched Mar 2024, succeeding £1bn+ facilitated NPIF I (2017-2023). Sector-agnostic SME financing via 9 regional fund managers: FW Capital, Mercia, Praetura, NEL, Maven, River Capital, GC Business Finance, BEF. Recent portfolio: Troo (cleantech), Cytix (cybersecurity £1.6m seed), Lexio Technologies (legal tech), Nova Pangaea (sustainable aviation fuel). Strong ESG/climate focus.
Investment Focus
Investment Thesis
Sector-agnostic regional fund targeting SME growth across North of England (all regions: NW, Yorkshire/Humber, NE, Tees Valley, Cumbria). Pre-seed to growth stage. Debt: £25k-£2m; Equity: up to £5m. 9 fund managers deployed regionally. Embedded ESG/net-zero transition focus. Targets underserved founders (incl. female), addresses North/South funding gap. Avoids: non-North-based businesses (req. HQ or significant operational presence).
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