MSIF GROUP REPORTS £6 MILLION PROFIT IN 2023-24

Recently filed accounts for Merseyside Special Investment Fund Limited

(MSIF) display a group profit of £6 million for the financial year ended March 31, 2024.

Now in its 30th year of supporting Liverpool City Region businesses, the growth in profit reflects the strong performance of MSIF’s investment activities across its debt portfolios and the increased carrying values of its venture and equity holdings, several of which have been realised since the year end.

MSIF’s investments are managed by its Liverpool based subsidiary company River Capital, who delivered over £6million in funding support to 27 businesses during the year to March 31, 2024, with 20 of these based in the Liverpool City Region. New investment activity across the group remained robust. In addition to its investment in the North West Private

Equity Fund managed by River Capital, which provides investments up to £2 million for businesses across the North West, MSIF corner-stoned investment in River Capital’s AI Fund and invested £8m into the North West Business Growth Loan fund, securing a further £10 million co-investment from TDC as a result

In addition, MSIF continues to provide crucial support to ambitious local businesses and has expanded its provision and funding for two key pillars of the ecosystem, enabling them to remain free of charge to the end user.

Alongside the Growth Platform, MSIF has increased its investment in its LCR Finance Hub offering, which provided financial planning and investment readiness assistance to over 650 businesses in the year and helped 45 companies secure funding of over £3.5 million. This is in addition to its investment to support the expansion of its angel network offering following the rebranding of the LCR Angel Network to Gateway Angels. The network has grown to include over 40 active investors, and successfully facilitated funding rounds for three businesses during the financial year. are delighted that through our fund manager, River Capital, MSIF funds continue to make a difference and support ambitious SMEs to deliver their growth plans.

Neil Ashbridge, Chairman of MSIF commented on the group’s growth: “Despite challenging economic conditions in the year to 31 March 2024, including inflationary pressures and higher borrowing costs, the MSIF Group continued to see the positive effects of its long-term growth strategy. Going forward MSIF’s focus will remain on promoting economic growth in the Liverpool City Region by providing essential financial support and advice to SME businesses through our group of businesses.

There continues to be a strong and diverse business base in the LCR, and we are delighted that through our fund manager, River Capital, MSIF funds continue to make a difference and support ambitious SMEs to deliver their growth plans. In turn, this enables MSIF to support initiatives such as the LCR Finance Hub and Gateway Angels for the next generation of entrepreneurs.

Neil Ashbridge, Chairman of MSIF