200 companies receive investment from Finance Yorkshire

Alex McWhirter, Chief Executive of Finance Yorkshire

Finance Yorkshire has invested nearly £30m in more than 200 small and medium sized enterprises since August 2010.

The venture capital and loan fund has completed a total of 280 investments, ranging from £15,000 to more than £1.2m, in Yorkshire, the Humber and North and North East Lincolnshire.

Finance Yorkshire’s investments have created and safeguarded more than 5,190 jobs and generated a private sector leverage of more than £56million, which equates to £2.06 for every pound invested (jobs and private sector leverage figures are up to the end of September 2012).

Business services, advanced engineering and manufacturing, ICT software, telecoms, healthcare and bioscience are some of the key industry sectors Finance Yorkshire has invested in over the last two years.

Alex McWhirter, Chief Executive of Finance Yorkshire, said: “results so far show that we are making a real impact in Yorkshire and Humber. We are completing an average of ten investments each month. However, there is still a lot of hard work to be done and we will continue to speak to financial intermediaries and businesses about investment opportunities.

“We are fortunate to have so many excellent SMEs in a wide range of industry sectors across Yorkshire and Humber, and the challenge for us is to make sure that we bring together the most appropriate finance package to support those growing companies that are pursuing investable and well managed business ideas.

“By bringing together the great ideas and a desire to grow with the right financial backing we can help to create a significant impact on the region’s economy.”

Finance Yorkshire provides seedcorn, loan and equity linked investments, ranging from £15,000 to £2m to help a range of small and medium sized businesses to meet their funding requirements for growth and development.

Finance Yorkshire is supported financially by the European Union. It has attracted £30million investment from the European Regional Development Fund (ERDF) as part of Europe’s support for the region’s economic development through the Yorkshire and Humber ERDF Programme, £15million from Yorkshire Forward’s Single Programme, and £45million match funding from the European Investment Bank.

For more information about Finance Yorkshire, please visit www.finance-yorkshire.com or ring 0845 649 0000.

Note: this news article is from Finance Yorkshire’s previous fund. Read more about Finance Yorkshire