FW Capital has expanded its team in Cumbria.
Joe O’Connor has joined FW Capital as assistant investment executive and will focus on providing funding to regional businesses from the new £75 million NPIF II – FW Capital Debt Finance fund, part of the Northern Powerhouse Investment Fund II.
Finance of £100,000 to £2 million is available to businesses in the North of England with a focus on Cumbria, Cheshire, Greater Manchester, Lancashire and Merseyside. FW Capital was previously responsible for the successful delivery of the original £176 million NPIF Debt Finance Fund.
Joe has over 10 years’ experience of working with SMEs in relationship manager roles at HSBC across retail and commercial banking. In his new role Joe is focused on identifying and supporting ambitious SMEs in Cumbria and Lancashire with funding to assist their growth goals.
Gary Guest, fund director at FW Capital, said: “Joe is a valuable addition to our team, bringing a wealth of experience which will help businesses across the region. He understands the obstacles faced by many businesses and in his new role will seek opportunities to use the Northern Powerhouse Investment Fund II to back the next generation of high-potential businesses in Cumbria and Lancashire.”
Joe said: “I’m looking forward to getting back on the road to meet and support businesses across Cumbria and Lancashire. I was born and raised in Cumbria so it’s great to be able to give back to this area and help drive growth using the NPIF II Fund.
“My banking background has given me a good understanding of how businesses approach their funding needs and growth ambitions. It’s exciting to join FW Capital and play an important role in providing funds to firms that might otherwise not receive investment and help to break down barriers in access to finance.”
Simon Cunnington, Director at the British Business Bank said: “Experienced fund managers play a big part in providing businesses with access to finance and the addition of team members with the right mix of skills and experience will enable NPIF II to have a lasting impact on the business community in the North.”
“By leveraging the expertise of their team across the whole of the North West, FW Capital will be able to continue bridging the funding gap and support the development of a robust entrepreneurial ecosystem in the region.”
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 Northern Powerhouse Investment Fund II aims to build on the success of the initial fund, with the purpose of driving 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. FW Capital will provide debt finance options from £100,000 to £2million to businesses based in the North West of England.
