British Business Bank commits up to £150m to a proposed northern scale-up fund
The British Business Bank will commit up to £150m to a proposed scale-up fund for northern England, the government-owned development bank said in its Monday release.
The fund is expected to invest £5m to £15m in high-growth companies. Its stated sectors include technology, clean energy, space and the creative industries.
That is the allocation, not the fund total. The release says private capital is intended to follow, but it names no manager, launch date or application route.
No launch date is given.
The planned fund would complement the Northern Powerhouse Investment Fund II and the Regional Angels Programme. The existing northern fund supplies as much as £5m to a smaller business, according to the release.
