Enterprise Ventures, part of Mercia Technologies PLC, has announced that it has expanded both its debt and equity teams with four new appointments in its Yorkshire offices as a result of the £108 million of Northern Powerhouse Investment Fund (NPIF) contracts which it secured in February.
Peter Sorsby has joined the NPIF Enterprise Ventures Debt Finance Team as Investment Manager. Previously Pete was Director for Commercial Banking for RBS in South Yorkshire and North Derbyshire running the bank’s Relationship Management Team. In his new role Paul will be sourcing debt opportunities in the Sheffield City Region investing between £100k and £750k.
Phil Cooper has also joined the NPIF Enterprise Ventures Debt Finance Team as Investment Manager. Prior to joining Enterprise Ventures Phil spent 35 years working for Yorkshire Bank. Phil is covering West Yorkshire and will be sourcing debt opportunities investing between £100k -£750k.
Simon Crabtree has joined the NPIF Enterprise Ventures Equity Finance Team as Investment Manager. Simon is from the materials and petrochemical industry, having held positions in Johnson Matthey and Davy Process Technology. Simon is covering Teesside and will be sourcing new equity investments across the Tees Valley Region ranging from £50 - £2million.
Maurice Disasi has joined the NPIF Enterprise Ventures Equity Finance Team as Fund Administrator. He brings with him significant experience in managing the investment process having previously worked as an Investment Executive on the Finance Yorkshire Equity Linked Fund.
Mark Payton, CEO of Mercia Technologies PLC said – “We are delighted to welcome our new members to the Team. The Group is continuing to grow as a result of the recent fund management wins and the level of interest we are seeing in NPIF has not surprised us. In the first few weeks since the launch we have received enquiries from almost three hundred businesses. Our debt team completed one of the first deals from the Fund, and the pipeline of exciting new opportunities is great to see, proving that there is no shortage of innovation in the North of England”.
The Northern Powerhouse Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.