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1:00 AM 16th January 2025
business

NPIF II Boosts Northern Economy With £50m Worth Of Investment Since Launch

FinLegal:  (L-R) Chris Borrett, Steven Shinn & Will Clark
FinLegal: (L-R) Chris Borrett, Steven Shinn & Will Clark
The Northern Powerhouse Investment Fund II (NPIF II) has made over 130 investments totalling £50m into businesses in the North of England, following its launch in March 2024. The milestone highlights the British Business Bank’s commitment to supporting smaller businesses across the North to secure crucial funding for growth.

The £660m Northern Powerhouse Investment Fund II covers the entire North of England, providing 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.

A Yorkshire business that successfully secured NPIF II funding is Hull-based Wild Intervention, which delivers all-encompassing support to young people aged 16 and over, through outdoor education and activity programmes.

Wild Intervention secured the funding through NPIF II – BEF Smaller Loans, to help develop an app that can accurately store, monitor, and track the progress of the young people it works with. The funding will also help Wild Intervention free up cash flow to offer more community activities through the other arm of its business, Wild Opportunities.

Talk Straight: (L-R) Andy Heaton & David Tindall
Talk Straight: (L-R) Andy Heaton & David Tindall
In West Yorkshire, Talk Straight, a company which provides broadband and cloud services to schools throughout the UK, secured £1m from NPIF II – Mercia Debt Finance. The Ilkey business, which employs 70 staff, will use the company to bolster its team by adding six new jobs to its ranks, as well as expanding its sales and marketing arms.

Finlegal, a Sheffield-based legal-tech company also secured significant investment to help it expand into international markets. The first businesses to secure finance from NPIF II, the company raised £2m from NPIF II – Mercia Equity Finance, which will also be used to create 26 new jobs.

The Northern Powerhouse Investment Fund II aims to build on the success of the first fund, with the purpose of driving sustainable economic growth by supporting innovation and creating local opportunity for new and growing businesses across the North.

Ken Cooper
Ken Cooper
Ken Cooper, managing director at the British Business Bank, said:
“From youth outdoor education providers to cloud support services, NPIF II is already having an impact across all parts of the North of England. Our region is home to some truly innovative businesses, and we want to ensure that every ambitious entrepreneur has the right support and finance to help their business to thrive. Yorkshire is home to a vast network of small businesses, creating jobs across a wide range of industries, which is a key aim of NPIF II.

“The finance from NPIF II, and the work of our fund managers, is already boosting regional economies and creating opportunities for local entrepreneurs. We have supported some great businesses so far, and we look forward to seeing the continued impact of NPIF II as it approaches its first year in operation.”


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.