Northern Powerhouse Investment Fund's First Investment in Yorkshire

Author Daderot  Licence CCO  1.0  Source Wikimedia Commons

Harlow Carr Gardens Harrogate

 

Jane Lambert

On 24 March 2024, the British Business Bank announced the launch of a £660 million fund to invest in businesses in the North of England known as the "Northern Powerhouse Investment Fund II" (see the British Business Bank's press release Launch of the Northern Powerhouse Investment Fund II provides £660m boost for small businesses of 21 March 2024).  I wrote about the launch in Northern Powerhouse Investment Fund II on 4 April 2024 in NIPC Northwest.   I learnt more about the fund at Innovate UK Regional Investment Spotlight – Liverpool which took place at the Liverpool Science Park on 26 June 2024 and I got the chance to question the funders at Daresbury on 12 July 2024 (see Northern Powerhouse Investment Fund II - Meeting the Funders 14 July 2024 NIPC Northwest).

The British Business Bank has recently announced the Fund's first investments In Yorkshire, the North East and North West.  According to the Bank's press release of 18 July 2024  the first investment in Yorkshire was £2 million to Worthenshaws Ltd trading as Kirsty's in Harrogate from Mercia Equity Finance.  The investment will be used to fund the development of new products and is expected to create 15 new jobs. Another aspect of the transaction is that Ian Kent will chair the company.

Worthenshaws Ltd.' first came to the public's notice when the company's founder, Kirsty Henshaw appeared on the BBC's Dragons' Den in 2010.  On that occasion, she raised investment to produce a frozen dessert alternative to ice cream.  According to Megan Dansby, that product was not sufficiently profitable. The company rebranded as Kirsty’s and introduced a range of oven-ready meals (see Megan Dunby Dragons’ Den success stories: Worthenshaw’s (and what you can learn from them) 23 March 2023 Startups). The post contains a link to Ms Henshaw's arrival at the Dragons' Den. 

Anyone wishing to discuss this article may404 5252  call me during office hours on 020 7404 5252 or send me a message through my contact form.