A U.K. government backed fund has been rolled out to offer growth capital to business in the northwest of the country, AltAssets reports. The £185 million North West Fund formerly known as the Venture Capital and Loan Fund, is a public sector fund, which will create or save 14,000 jobs in the region and contribute over £700 million of Gross Value Added to the economy. The vehicle has a £92.4 million contribution from European Regional Development Fund and a £92.4 million loan from the European Investment Bank.
YFM Private Equity, FW Capital, Enterprise Ventures, Spark Impact, CT Investment Partners and AXM Venture Capital have been awarded £170 million to invest into a specific product or sector.

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