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Two major contracts secured for Northern Powerhouse Funds

22 February 2017

Mercia has been successful in its bids, via its wholly-owned subsidiary Enterprise Ventures Limited, to manage two of the British Business Bank's (BBB) new Northern Powerhouse Investment Funds (NPIF).

Following a highly competitive procurement process managed by the BBB, the Group has secured £108.5million across two mandates; a £57.5million equity fund and a £51.0million debt fund.

The funds will be deployed via Mercia's North of England offices, which will be focused primarily on investing in SMEs in Yorkshire, the Humber and Tees Valley regions, where the Group already has a successful track record of supporting start-up and later stage companies that have high growth potential.

To read the full RNS announcement, click here.

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