Yorkshire businesses gain a slice of NPIF II
Businesses across Yorkshire and the Humber have gained a slice of small business investment fund Powerhouse Investment Fund II (NPIF II)
In its first year since launching, the Northern Powerhouse Investment Fund II (NPIF II) has successfully completed more 200 investments into small businesses across the North of England, totalling over £80m.
The investments, delivered by the NPIF II fund managers, have assisted in driving sustainable economic growth by supporting innovation and local opportunities for new and growing businesses across the North.
Operated by the British Business Bank, NPIF II is a £660m fund that provides loans and equity finance options for Northern smaller businesses that might otherwise not receive investment. The purpose of NPIF II is to break down barriers in access to finance by providing loans from £25k to £2m and equity investment up to £5m to start up, scale up, and stay ahead.
In Skipton, Thornton Park Farm secured £100,000 from NPIF II – Mercia Debt Finance to diversify its operations with the development of five luxury holiday pods. The funding supported the Dunnett family as they revived the land after a four-year farming pause, creating new revenue streams and keeping two generations within the business. NPIF II has been key to transforming the farm into a sustainable, family-run rural enterprise.
Claro Hill Vets in Harrogate secured a £90,000 loan from NPIF II – BEF Smaller Loans, providing crucial working capital to safeguard seven jobs and create four new roles. Launched by Laura Keyser in 2024, the funding gave the practice the stability to grow confidently, enabling it to hit its £500,000 first-year turnover target and establish a strong foundation for long-term success as an independent veterinary provider.
Leeds-based 75Media secured a seven-figure investment from NPIF II – Mercia Equity Finance to accelerate the development of its AI-driven booking platform, making outdoor advertising more accessible to all brands. Since launching in 2020, the business has grown from 140 sites to become the UK’s second-largest provider of large format billboards. Now, with backing from NPIF II, 75Media plan to capitalise on a strong year end in 2024 where it saw revenue soar by 454% and its headcount double.
Lizzy Upton, senior investment manager at the British Business Bank, said: “There were thousands of businesses that set up shop in Yorkshire and the Humber last year, proving that entrepreneurial spirit within the region is booming. From Claro Hill Vets creating jobs in the region, to Thornton Park Farm diversifying its income stream, and 75Media revolutionising roadside advertising, we’re supporting innovative businesses with strong local roots.”
