INVESTMENT
RAISING
Team game – Pictured left to right are Lindsey McMenamin and Lewis Blakelock from FW Capital , Cllr Julia Rostron ( vice-chair of the Teesside Pension Fund Committee ) and Keith Charlton , Jo Whitfield and Tony Cullen from FW Capital .
CAPITAL
Boosting Teesside with £ 68m funding
Funding is still a critical concern for many Teesside business owners and having access to the right finance and support is crucial for future success .
In response to this , fund manager FW Capital has stepped up its commitment to Teesside SMEs with a new £ 20m fund .
This is created specifically to tackle identified funding gaps in the region and assist economic growth .
Jo Whitfield , fund director at FW Capital , explains : “ We ’ ve been supporting local businesses for over 12 years and are proud of our strong track record of success .
“ We ’ ve invested close to £ 38m into 77 companies in Tees Valley alone . Through The Teesside Flexible Investment Fund , we will build on this and aim to provide total investment in the region of £ 68m because the money from repayments and exits will be recycled into new deals .”
Jo continues : “ There ’ s lots going on in the Teesside area with exciting plans for regeneration , and we ’ re excited to be in a position to unlock much-needed finance for SMEs and provide valuable investment for the future .
“ We ’ ve seen first-hand how important it is to have the right backing and specifically created a fund that supports a variety of needs to match the diversity we are seeing across the region .
“ Businesses know us for providing property development funding and bond finance in the North-East , and we ’ re excited to be expanding our offering into supporting
management teams looking to buy a business .
“ Assisting the transition of business ownership safeguards this legacy for the future . In providing this much needed alternative finance we aim to drive more opportunities and remove barriers for growth to local businesses , resulting in job creation and economic prosperity .
“ We are keen to talk to businesses across the region about their future plans . This new fund can be a way to help companies who thought funding support seemed out of reach .”
Designed by FW Capital with investment from the Teesside Pension Fund , the fund will support economic development in Hartlepool , Middlesbrough , Stockton-on-Tees and Redcar and Cleveland through a mix of property development funding , contract-related bond finance and finance to support management teams in buying a business .
It aims to make a significant economic impact in Teesside by providing local businesses with investment ranging from £ 100,000 to £ 3m .
The new fund follows the success of the Tees Valley Catalyst Fund , which FW Capital ran on behalf of the Tees Valley Combined Authority and ended in 2023 .
This provided bond finance , facilitating contracts of more than £ 107m across Tees Valley .
The new fund will also allow FW Capital to support property developers in Teesside , using its experience in funding residential and non-speculative commercial developments in other areas of the North-East .
Cllr Julia Rostron , vice-chair of the Teesside Pension Fund Committee , added : “ FW Capital has been investing in local business and enterprise for over a decade , and has played a key role in supporting growth and generating prosperity .
“ The new Flexible Investment Fund in partnership with the Teesside Pension Fund will build on that work with SMEs which will deliver much-needed new opportunities for further growth and the creation of highquality , sustainable jobs .”
The Teesside Flexible Investment Fund can be used for :
• Loans from £ 250,000 to £ 3m for residential and non-speculative commercial developments . Providing up to 100 per cent of build costs for suitable schemes with repayment terms available up to three years .
• Loans from £ 100,000 to £ 2m for contractrelated bonds including advance payment guarantees , performance , warranty , highways and water authority bonds . Repayment terms are available of up to two years .
• Loans and equity investments from £ 250,000 to £ 3m for management teams seeking to own and run their own business . Investments are available between one and five years .
If you want to find out how we can support your business , email info @ fwcapital . co . uk or visit fwcapital . co . uk .
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