Investor profile
Northern Powerhouse Investment Fund II
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The Northern Powerhouse Investment Fund II is a £660 million fund launched in March 2024 by the British Business Bank to drive sustainable economic growth by supporting innovation and creating local opportunity for new and growing businesses across the North of England. The fund aims to tackle an identified funding gap between the North and South of England and increase the supply and diversity of early-stage finance for smaller businesses. NPIF II provides commercially focused finance through smaller loans (£25k-£100k), debt finance (£100k-£2m), and equity investment (up to £5m) to SMEs at all stages of development. The fund has embedded Environmental, Social and Governance (ESG) awareness into its design and will help support the UK economy's transition to net zero.
Notable quotes
“This new fund will unlock millions in equity and loans for SMEs across the North to realise their full potential and builds upon British Business Bank's vital work ensuring that any small business owner in the UK can scale up and grow.”
“SMEs are the engines of growth for our economy and across government we are improving access to finance, cutting red tape and removing barriers to ensure that they can go further and faster than ever before.”
Recent investments
| Company | Round | Size | Date |
|---|---|---|---|
| Kani Payments | Series A | — | 2025-02 |
| Made With Intent | Growth | $3m | 2026-02 |
| Scrubmarine | Pre-seed | $256k | 2024 |
| Finlegal | Growth | $3m | 2024 |
| Troo | Debt | — | 2024-10 |
| Freeklime | Debt | $192k | 2024 |
| iPac | Growth | $6m | 2024 |
| Aperidata | Growth | — | — |
| AccessPay | Growth | — | — |
| AssetMinder | Growth | — | — |
Frequent co-investors
| VC firm | Deals together |
|---|---|
| PXN Ventures | 1 |
| Mercia Asset Management | 1 |
| Maven Capital Partners | 1 |
| FW Capital | 1 |
| NEL Fund Managers | 1 |
| Praetura Ventures | 1 |
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