Enterprise Ventures, an FCA- authorised and regulated fund manager under FSMA and a wholly owned subsidiary of Mercia Technologies PLC, has expanded both its debt and equity teams with four new appointments in its Yorkshire offices as a result of the £108m Northern Powerhouse Investment Fund (NPIF) contracts which it secured in February.
– Peter Sorsby has joined the NPIF Enterprise Ventures Debt Finance Team as Investment Manager. Previously, he was Director for Commercial Banking for RBS in South Yorkshire and North Derbyshire running the bank’s Relationship Management Team.
In his new role, Sorsby will be sourcing debt opportunities in the Sheffield City Region, investing between £100k and £750k.
– Phil Cooper has joined the NPIF Enterprise Ventures Debt Finance Team as Investment Manager. Prior to joining Enterprise Ventures, Cooper spent 35 years working for Yorkshire Bank. He is covering West Yorkshire and will be sourcing debt opportunities investing between £100k -£750k.
– Simon Crabtree has joined the NPIF Enterprise Ventures Equity Finance Team as Investment Manager. He is from the materials and petrochemical industry, having held positions in Johnson Matthey and Davy Process Technology. Crabtree is covering Teesside and will be sourcing new equity investments across the Tees Valley Region ranging from £50k – £2m.
– Maurice Disasi has joined the NPIF Enterprise Ventures Equity Finance Team as Fund Administrator. He brings with him significant experience in managing the investment process, having previously worked as an Investment Executive on the Finance Yorkshire Equity Linked Fund.
Operated by British Business Financial Services Limited, wholly owned by British Business Bank, the UK’s national economic development bank, the Northern Powerhouse Investment Fund will invest in Microfinance, Business Loans and Equity Finance sub-funds which will offer financing ranging from £25,000 to £2m, specifically to help small and medium sized businesses secure the funding they need for growth and development.
The fund, supported by the European Regional Development Fund, the European Investment Bank, the Department for Business, Energy and Industrial Strategy and British Business Finance Limited, a British Business Bank group company, covers the following LEP areas: Tees Valley Combined Authority, Greater Manchester, Cheshire and Warrington, Cumbria, Liverpool City Region, Lancashire, Humber, Leeds City Region, Sheffield City Region, York, North Yorkshire and East Riding.