North West Fund backs PlaceFirst

The North West Fund for Energy & Environmental is a sub-fund of the North West Fund, financed by the European Regional Development Fund and the European Investment Bank.

The North West Fund is the umbrella term for six funds managed by players including YFM Equity Partners and Enterprise Ventures, which back SMEs in the North West of England.

The investment marks the 100th deal completed through the North West Fund, which has invested almost £30m since December 2010.

The fresh capital, in the form of equity and debt facilities, will support an increased focus on the creation of affordable housing through remodelling rundown neighbourhoods and retrofitting renewable energy in social housing.

Company
Founded in 2009 and based in Didsbury, PlaceFirst began as a consultancy focused on housing regeneration and renewable energy. The firm now has a services arm, which helps public sector clients with development, regeneration and energy projects, and a development arm, which finances, builds and manages assets in renewable energy and affordable housing markets.

People
Michael Bakewell, investment manager at CT Investment Partners, joined the board of PlaceFirst.

Advisers
Equity – Geldards (Legal).

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