A Manchester marketer’s move into experiential campaigns, live events and brand activations and a Lancashire game developer that makes games in partnership with Meta are among the latest beneficiaries as GC Business Finance & River Capital announced that their Smaller Loans fund, 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 new specialist vehicle – the “Mobile Disruption Unit” – designed for experiential campaigns, live events and brand activations.
Also in the money was Lancashire-based game studio and game-tech software developer PlayXD (pictured), 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.”
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.
