A North West fund manager with a satellite hub in Kendal, River Capital, has opened a new office in Manchester, following a £10 million investment.

The company chose the Bruntwood BLOC building on Marble Street as a base to manage its increasing portfolio of funds as it aims to support SMEs across the region.

The investment comes from the Greater Manchester Pension Fund, delivered by TDC.

As well as the successful North West Business Growth Loan offering, the Manchester office will serve as a hub for the entire portfolio of funds, including the North West Private Equity Fund and the North's first dedicated artificial intelligence investment fund, fund:AI.

River Capital, which has its head office in Liverpool, can now support businesses with debt, venture and equity packages ranging from £25,000 to £2 million.

Mr Mark Borzomato, CEO of River Capital said: "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.

"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."

The company is also investing in the growth of its workforce, currently standing at 25 employees.

Mr Borzomato said: “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.”

For more information about River Capital, its funds, and investment opportunities, visit www.rivercapitaluk.com.