Funder wins £100m for small firms

Dr Mark Payton
Dr Mark Payton
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A funding group with an office in Barnsley has won the race to manage £108.5m of funding for SMEs in the North.

Enterprise Ventures beat off competition to manage a £57.5m equity fund and a £51m debt fund for the Sheffield-based British Business Bank.

EV is a subsidiary of Mercia, a national investment group focused on funding innovative technology businesses with high growth potential.

Dr Mark Payton, CEO, said: “Our aim to invest in the UK’s underserved regions, supporting businesses with high growth potential, where we are already very active.”