Completed across 449 deals, the Fund says it has boosted regional growth and attracted an extra £122.6million on top of the £151.3million it invested.
Over the last two years, the Fund has supported a diverse range of businesses through debt and equity investment, helping them to achieve their growth ambitions and bring innovative ideas to market.
Delivered by the Business Enterprise Fund (BEF) and Mercia across Yorkshire and the Humber, the investments are continuing to drive sustainable economic growth.
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Puzzling World of Professor Kettlestring opens in York
In York, The Puzzling World of Professor Kettlestring secured a five-figure loan from NPIF II – BEF Smaller Loans, enabling the team to turn a detailed business plan into a fully realised, multi-room optical illusion attraction.
Founded by Matthew Tritton-Hughes, the funding facilitated the construction of multi-sensory illusion rooms, the creation of sideways and distorted spaces and the development of bespoke sets.
Mark Sterritt, Senior Investment Director at the British Business Bank, said: “Yorkshire is full of ambitious, innovative businesses, and in just two years it’s incredible to see how many of them we’ve supported through NPIF II. Whether its businesses leading the way in new digital technology platforms, or those who are helping to create a more sustainable planet, we’re committed to backing the trailblazers who are shaping the economic environment of the region.
With a particular focus on breaking down traditional barriers to accessing finance, we’ve also made great progress in targeting funding in harder-to-reach areas and founders from diverse backgrounds.
Run by the British Business Bank, NPIF II is a £660m fund that provides loans and equity finance to Northern smaller businesses that might otherwise struggle to secure investment. The fund offers loans from £25k to £2m and equity investment up to £5m to help businesses start up, scale up and stay ahead.
