Businesses across the North West have benefited from over £180 million of investment since the launch of the Northern Powerhouse Investment Fund II (NPIF II).

The NPIF II has directly invested £115 million into more than 300 small businesses across the North of England, supported by an additional £68 million of private sector co-investment. This takes the total delivered funding to over £180 million across more than 315 deals.

The £660 million fund, operated by the British Business Bank, provides loans from £25k to £2m and equity investment up to £5m, helping Northern small businesses access finance for growth. The investment assists in driving sustainable economic growth by supporting innovation and local opportunities across the region.

North West Business Success Stories

The fund has completed several deals with founders across the North West:

Moxie Financials (Preston): The accountancy and tax specialist, founded by Sian How, secured a smaller loan from NPIF II – River Capital & GC Business Finance. The essential working capital will create four new roles, supporting the firm's expansion into the legal sector and boosting its marketing capabilities.

CareLoop (Manchester): The digital therapeutic platform and university spinout company secured part of a £1.8 million investment led by NPIF II – Praetura Equity Finance in January 2025. Launched by mental health experts Professor Shôn Lewis, Professor John Ainsworth, and Professor Sanra Bucci, the funding will develop its technology to include other severe mental illnesses, such as bipolar disorder.

Redstones (Cumbria): Entrepreneur Andy Barr redeveloped the former YHA Dufton into Redstones, a new accommodation in an Area of Outstanding Natural Beauty. A six-figure investment from NPIF II – FW Capital Debt Finance supported the venture, helping to create new jobs and boost the local tourism economy.

Sue Barnard, Senior Investment Manager at the British Business Bank, said: “The launch of NPIF II has been a resounding success and this latest £180m milestone reflects the hard work our fund managers have undertaken to ensure that transformational financing is going directly to the region’s businesses. The North West has always been a key driver of economic activity in the North, and the businesses that have already secured investment are indicative of more to come. It’s no secret that access to finance can unlock considerable growth for small businesses, so the message now is for entrepreneurs to get in touch and speak to our fund managers about taking that next step in their journey.”