NPIF Equity

NPIF contracts awarded to Enterprise Ventures

We are delighted to advise our networks that Enterprise Ventures, part of Mercia Technologies PLC, has been successful in its bids 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 £108.5 million across two mandates; a £57.5 million equity fund and a £51.0 million debt fund.

The funds will be focused on investing in SMEs in Yorkshire, the Humber and Tees Valley regions, where the team already has a successful track record of supporting start-up and later stage companies that have high growth potential. While the focus is on these regions, we are able to offer equity and debt finance across the entire Northern Powerhouse region.

These new fund mandate wins represent further strategic progress for Enterprise Venture’s parent company, Mercia Technologies PLC; as a result of the two awards, Mercia has increased the Group’s third party funds under management by nearly 50%, to £336.5 million.

Jonathan Diggines – Executive Director Funds said

“We are thrilled to be working with BBB to deliver these funds to Northern SMEs.  The investment team has a fantastic track record and is ideally placed to manage these new mandates having already delivered several notable successes for similar public and private funds, including Blue Prism Group PLC, Optibiotix Health PLC, Xeros Technology Group plc and Concepta PLC. We are looking forward to working with the BBB to make many successful investments over the coming years.”

Dr Mark Payton, CEO of Mercia Technologies PLC, said:

“We’re delighted that, in a highly competitive field, the Group has been selected to manage two Northern Powerhouse Investment Funds. The new funds are strongly aligned with Mercia’s ‘Complete Capital Solution’ and our strategic aim to invest in the UK’s underserved regions, supporting the next generation of businesses with high growth potential, where we are already very active.



About the Fund

The Northern Powerhouse Investment Fund, which has been established in conjunction with the European Regional Development Fund (ERDF), the European Investment Bank (EIB) and the UK Government will provide small and medium businesses with increased flexibility in the types of funding available, as well as boosting investment levels in the North.