New FW Capital team to spearhead investment of Tees Valley Catalyst Fund
FW Capital, the company which manages the Tees Valley Catalyst
Fund has appointed a team of three to spearhead its investment
operations in the Tees Valley.
Launched by Tees Valley Unlimited (TVU) at the end of June, the
£10 million Catalyst Fund provides Tees Valley businesses with
short-term finance to fund performance and warranty bonds.
It is anticipated that it will unlock almost £700 million of
additional work and support approximately 1,440 jobs in Tees Valley
over the next ten years.
FW Capital’s Fund Manager, Joanne Pratt has recruited investment
executives, Nicky Atkinson and Chris Johnson to make investments
from the government-backed fund. The team will be based at FW
Capital’s new Tees Valley office in Billingham.
Atkinson has joined FW Capital from HSBC where she spent over
thirty years in a variety of roles, including managing a 120-strong
portfolio of business customers.
With over 12 years’ corporate banking experience, Johnson’s
career has included roles with Barclays, Yorkshire Bank and Allied
Welcoming the new team, Joanne Pratt said: “FW Capital is
pleased to be managing the innovative new Tees Valley Catalyst Fund
which has the potential to make a significant impact in the Tees
Valley. It’s been specifically created to provide local
businesses with the financial backing they need to win new
“We’ve received significant interest in the Fund since its
launch and our Tees Valley team is already working on an
interesting pipeline of proposals. The team is locally based
at our new Billingham office and keen to work with Tees Valley
businesses and their advisers.”
Small and medium-sized businesses (SMEs) as well as larger
businesses based in Darlington, Hartlepool, Middlesbrough, Redcar
and Cleveland and Stockton-on-Tees can apply for short-term finance
of between £100,000 and £2 million to fund performance and warranty
Stephen Catchpole, managing director at Tees Valley Unlimited
welcomed the new team adding, “One of the key remits of TVU is to
overcome the obstacles that restrict the development of our local
companies. The Tees Valley Catalyst Fund is a prime example of how
we are working to identify unique and innovative schemes that
proactively help firms to grow and create new jobs. We look
forward to the team at FW Capital helping the fund to meet its
Returns from the ‘evergreen’ fund will be ploughed back into
providing new loans.
Businesses wishing to apply for funding should contact Chris
Johnson on 01642 343 495 or Nicky Atkinson on 01642 343 494 or
FW Capital has also been managing the North East Growth Plus Fund in the North East
since 2010 and the Catalyst Fund increases its presence in the
North East. The North East Growth Plus Fund backs established
small and medium-sized businesses throughout the North East with
growth capital investments from £350,000 to £1.25 million.