The Merseyside Special Investment Fund (MSIF) has reported that there has been a 15% increase in the number of businesses it has supported in 2014, including more than 120 start-ups (and increase of 72% on 2013).
MSIF made 172 investments in 2014, totalling over £7.3 million and has big plans to build on these successes in 2015.
Lisa Greenhalgh, MSIF’s chief operating officer said:
“For a team which is making the majority of its investments in the Liverpool city region we are delighted with these figures.
“With over two decades of experience and successful delivery, MSIF has built up a solid reputation as a fund manager. We continue to deliver strong and growing results having generated significant returns from previous investments which have created further capital for us to re-invest.
“This track record has helped us to win contracts to manage additional funds for third parties as well as continuing to invest MSIF’s own funds.
“The latest funding figures mean we are ahead of target to invest the £64m we pledged over the next eight years or so.
“We also expect the total figure we have available to increase as we look to raise funds through other sources.”
Last year MSIF realised significant returns from its prior investments. Ms Greenhalgh continued:
“We exited from two companies which had grown substantially since our original investment which has resulted in returns which are considerable multiples of our original investment.
In addition, we were repaid on several significant loans including those with premiums attached upon full repayment.
“The number of start-ups we have supported is particularly encouraging. Liverpool recently broke into the top 25 of a national league table for business start-ups for the first time which is great news for the city.”
MSIF has invested almost £155m in 1,803 firms since 1996, which has created around 14,000 jobs and brought in nearly £290m in private sector investment.
Words: Peter Cribley