British Business Bank: NPIF II Achieves £80m Investment in Year One
Funding | Apr 15, 2025 | British Business Bank Investments Ltd
British Business Bank's Northern Powerhouse Investment Fund II (NPIF II) has achieved a noteworthy milestone, surpassing £80 million in its first year of operation. Designed to support smaller businesses across the North of England with loans and equity finance, NPIF II has provided over 200 investments, driving sustainable economic growth and fostering innovation. The fund, a £660 million initiative from the British Business Bank, aims to dismantle financial barriers for Northern enterprises. Notable companies benefiting from NPIF II include Newcastle-based fintech Kani Payments, which received multi-million investment to scale operations, and Claro Hill Vets, which secured a £90,000 loan to maintain and grow its practice. The Padel Club, in the North West, raised £1.5 million to expand its facilities. Through these strategic investments, NPIF II aims to enhance the supply and diversity of early-stage finance, further contributing to the Northern economy's resilience and growth potential.
Sectors
- Venture Capital & Private Equity
- Finance
Geography
- United Kingdom – The NPIF II is focused on supporting small businesses across the North of England, and the British Business Bank is a government-owned development bank in the UK.
Industry
- Venture Capital & Private Equity – The article discusses NPIF II, a fund providing debt and equity investments to smaller businesses, a core function of venture capital and private equity industries.
- Finance – The activities of NPIF II involve financial support for businesses in forms of loans and equity, which directly relates to the finance industry.
Financials
- £80,000,000 – Total investment made by NPIF II in its first year.
- £660,000,000 – Total size of the NPIF II fund.
- £90,000 – Loan given to Claro Hill Vets by NPIF II.
- £1,500,000 – Investment amount raised by The Padel Club from NPIF II.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| British Business Bank | Operator of NPIF II | Company | A government-owned development bank tasked with supporting small businesses through finance options. |
| NPIF II (Northern Powerhouse Investment Fund II) | Investment Fund | Company | A £660 million fund providing loans and equity investments to boost small businesses in Northern England. |
| Kani Payments | Investment Recipient | Company | A Newcastle-based fintech specialist that received significant funding to aid its growth and international expansion. |
| Claro Hill Vets | Loan Recipient | Company | An independent veterinary practice that used a loan to stabilize and expand its operations. |
| The Padel Club | Investment Recipient | Company | A participant in the fast-growing racquet sports market that expanded its operations with investment from NPIF II. |
| Adam Kelly | Managing Director, Co-Head of Funds | Person | An executive at British Business Bank commenting on NPIF II’s achievements. |