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16/07/2010

Joanne Pratt joins FW Capital as Senior Investment Executive

FW Capital has appointed Joanne Pratt as senior investment executive. The company manages the £20 million North East Growth Plus Fund which is part of the £125 million Finance for Business North East Fund. Pratt completes FW Capital’s team, joining Fund Manager, Andrew Coles and Investment Director, Peter Wright.

Commenting on the appointment, Peter Wright said: "This is a very exciting time for businesses based in the North East and for FW Capital. The £125 million Finance for Business North East Fund is excellent news for established SMEs in the North East. I’m pleased to welcome Joanne to the FW Capital team.

"Joanne is an experienced investment executive with a strong track record of investing in SMEs. She has worked in the North East for many years and joins our Fund Manager, Andrew Coles who will spearhead our activities."

Qualified chartered accountant, Pratt is a well-known face in the North-East and joins FW Capital from the investment team at NEL Fund Managers where she was involved in investment transactions across a range of sectors.

Pratt, who is based at FW Capital’s Newcastle office, joins the company at an important time for businesses in the North East.

"The Finance for Business North East Fund will play an important role in the growth of many of the North East’s businesses. I am very pleased to join FW Capital to help invest it. The £20m fund that FW Capital has to invest is targeted at more established businesses in the region and I am really looking forward to the challenge this presents."

FW Capital is part of the Finance Wales Group, one of the UK’s largest regional venture capital companies. The Finance Wales Group manages funds of more than £280 million and has invested more than £157 million. It invested a record £37 million in SMEs during 2009 -10 through 246 equity and debt investments during the year.

North East Growth Plus Fund