Liverpool-based fund manager River Capital has opened a base in Manchester.
River Capital says its expansion into Bruntwood’s BLOC building on Marble Street reflects the expanding portfolio of funds now being managed by River Capital as it looks to support SMEs across the North West with a blend of debt, venture and equity offerings.
It follows £10 million investment from the Greater Manchester Pension Fund, delivered by TDC, that has bolstered River Capital’s North West Business Growth Loan offering.
The new office will serve as a hub for the entire portfolio of River Capital’s expanding funds, including the North West Private Equity Fund and its evergreen EIS fund, fund:AI – the North’s first dedicated artificial intelligence investment fund.
River Capital can now offer debt, venture and equity packages from £25,000 to £2m across the North West with a local presence.
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“We are delighted to announce the opening of our Manchester office, which represents a landmark moment for River Capital, and underpins our commitment to support the wider North West business base,” said Mark Borzomato, CEO of River Capital.
“With the increased variety of funds managed which now total over £100m we are keen to build on our track record obtained over the past 25 years and fuel the ambitions of more of the region’s SMEs.
“The new office in Manchester perfectly complements our Liverpool office and will enable us to work more closely with local entrepreneurs, advisors and investors across a broader geographic landscape providing not just capital, but also the hands-on support and expertise needed to drive sustainable growth.
“In addition to the new Manchester office and following the success of securing the British Business Banks Northern Powerhouse Investment Fund II Smaller Loans Fund, we have also increased our presence in Lancashire and Cumbria with the opening of satellite hubs in Preston and Kendal, which again will provide the local business community with access to our full array of funding solutions.”