Rosie Winterton, Minister for Regional Economic Development and Coordination, today launched a new £90 million venture capital and loan fund to boost business growth in Yorkshire and the Humber, and a £3 million programme to ensure businesses are better able to access this and other funding.

The fund, called Finance Yorkshire and supported by the Regional Development Agency (RDA) Yorkshire Forward, will invest in ambitious entrepreneurs and businesses who can demonstrate their ability to successfully grow their companies and support regional economic recovery.

Rosie Winterton, who is also Minister for Yorkshire and the Humber, joined local businesses, including corporate financiers, advisers, accountants and solicitors, at the launch of Finance Yorkshire at the Aspire in Leeds.

Finance Yorkshire builds on the success of the now fully invested Partnership Investment Finance (PIF) which invested £42 million for qualifying businesses.

The fund will provide seedcorn, loan and equity linked investments, ranging from £15,000 to £2m, specifically to help small and medium businesses meet the gaps in funding they need for growth and development.

Finance Yorkshire's event follows the launch of the Yorkshire and the Humber ‘Understanding Finance for Business' programme this week in Leeds.

The £3million programme, supported by Yorkshire Forward, aims to provide high growth businesses in the region with the knowledge, advice, tools and resources to be investment-ready to access funding from potential investors and existing funding streams.

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