Fund manager MSIF says the award of RGF funds will significantly increase the amount of investments it makes in businesses across the North West region.
MSIF has been awarded funds by the government’s Regional Growth Fund as part of a £50.4m pot which is the final round of funding before the general election in May.
MSIF’s COO Lisa Greenhalgh said: “We have been looking to raise further funds so that we can strengthen our offering and provide funding to more businesses and we are delighted to be successful in this latest bid.
“Having been investing in Merseyside and the North West for two decades, we have built up a solid reputation as a fund manager. MSIF not only has an impressive track record of successfully investing in businesses to fund growth and create jobs but also generate returns on investment to build up further funding for the future. It is important for investors, whether public or private, to see that the money is being invested by organisations who have the knowledge and experience to make sound investments.
MSIF has invested over £154million in over 1800 businesses which has created/safeguarded around 14,500 jobs and brought in over £289million private sector investment to the region.
Since RGF was launched in 2010 by Deputy Prime Minister Nick Clegg, some £430m has now been invested in 89 projects across this region, which the government says has created or safeguarded around 117,000 jobs and attracted £2.5bn of further investment from the private sector.