GC Business Finance and River Capital deliver £1.83m of support to North West businesses
NPIF II – GC Business Finance & River Capital Smaller Loans, which is managed by the consortium as part of Northern Powerhouse Investment Fund II (NPIF II) has delivered £1.83m in the 2025/26 financial year.
Across the year, the two organisations supported 33 businesses, while continuing to maintain a strong pipeline of applications from founders seeking growth capital. As fund managers for NPIF II Smaller Loans of up to £100k across the North West, GCBF and River Capital play a vital role in helping businesses start, scale and invest in their future.
Over the last year, 27% of all loans went to female‑founded businesses, demonstrating the consortium’s continued commitment to backing entrepreneurs who have historically faced barriers to finance.
Funding reached businesses across Greater Manchester, Merseyside, Cheshire, Lancashire and Cumbria, reflecting the depth of innovation in the region and the important role the Northern Powerhouse Investment Fund II plays in supporting local economies.
NPIF II takes a sector-agnostic approach, enabling the consortium to support businesses across a diverse range of industries. This year’s investments included backing for Manchester-based marketing agency Hussel, which secured funding to launch a specialist vehicle designed for experiential campaigns, live events and brand activations.
Other investments included Liverpool-based hospitality business Pasta Cosa, which secured £70k to support the opening of a larger site at Liverpool’s Royal Albert Dock, and Lancashire-based game studio and game-tech software developer PlayXD, which received £100k to fuel growth as it develops its latest gaming title in partnership with Meta.
Andy Nichols, investment manager at GC Business Finance, said: “It’s been another strong year for NPIF II, with the team injecting over £1.8m into ambitious entrepreneurs across the North West. We remain committed to supporting underrepresented founders and those in harder‑to‑reach areas, helping businesses access the funding they need to grow, particularly as they navigate wider economic pressures. With a healthy pipeline ahead, we’re looking forward to backing even more businesses in the coming year.”
Sue Barnard, senior manager at the British Business Bank, said: “Now in its second year of operation, NPIF II remains vital to driving regional opportunity. The work delivered by GCBF and River Capital is a clear reminder of the Fund’s impact, helping to stimulate economic growth, create jobs and support innovation across the North West. And now, with the UK’s Modern Industrial Strategy and Innovation Clusters providing a clearer framework of regional strengths and growth areas, partnerships like this will continue to play an important role in supporting businesses and strengthening the UK economy in the years ahead.”
The £660m Northern Powerhouse Investment Fund II (NPIFII) covers the entire North of England and provides loans from £25k to £2m and equity investment up to £5m to help a range of small and medium sized businesses to start up, scale up or stay ahead.
The purpose of the Northern Powerhouse Investment Fund II is to drive sustainable economic growth by supporting innovation and creating local opportunity for new and growing businesses across the North of England. The Northern Powerhouse Investment Fund II will increase the supply and diversity of early-stage finance for the North’s smaller businesses, providing funds to firms that might otherwise not receive investment and help to break down barriers in access to finance.