FW Capital lands extra £40M to lend across North West England
What's the deal? FW CapitalDealroom has a profile for this one. Try Dealroom → has secured an additional £40 million from the British Business Bank's Northern Powerhouse Investment Fund II (NPIF II), timed with its 100th business backed in North West England. The boost lifts FW Capital's NPIF II debt pot for the region from £75 million to £115 million.
Why now? The top-up lands as NPIF II – FW Capital Debt Finance hits a landmark. Since launching in 2024, it has deployed more than £44 million across the North West, helping create and safeguard 227 jobs.
What's the endgame? FW Capital provides loans to small and medium-sized firms across Cheshire, Cumbria, Greater Manchester, Lancashire, and Merseyside. The fresh capital expands its capacity to help companies scale, enter new markets, and create jobs.
The 100th business is Cumbria-based training specialist Dove Nest Group, which took a six-figure loan to invest in its residential centre at Crosthwaite Mill.
What they said: "This increase means we can significantly accelerate our support, providing the vital funding that local businesses need to unlock their next chapters of growth," said Gary Guest, fund director at FW Capital.
The big picture: The wider £660 million NPIF II covers the whole North of England, offering loans from £25,000 to £2 million and equity up to £5 million. By May 2026, the programme had backed more than 400 businesses and facilitated nearly £275 million in investment, including £122.6 million in private-sector co-investment.
The signal: Regional state-backed funds are showing sustained deal flow and pulling in outside capital. Days earlier, PXN VenturesDealroom has a profile for this one. Try Dealroom →' North West equity fund was extended by £80 million to £180 million after more than 3,000 applications — a sign the North's finance gap is drawing fresh commitments.
Read more: growthplatform.org
Image credit: Richard Heyes
