Minister unveils £250million Access to Finance Fund to support Northern Ireland start-ups and SMEs

Pictured at the launch of a new round of Access to Finance funding are (L-R) Kieran Donoghue, Invest NI CEO, Economy Minister Dr Caoimhe Archibald and Ian Maxwell, Invest NI Executive Director Finance.

Economy Minister Dr Caoimhe Archibald has launched a significant new round of Access to Finance funding, with a potential total investment exceeding £250million to support start-ups and small and medium-sized enterprises (SMEs) across Northern Ireland.

The initiative, spearheaded by Invest Northern Ireland (Invest NI), comprises a portfolio of three funds. These include a £100million commitment from the public sector, with expectations of attracting over £150million from private investors over the next decade.

“In 2011, with many businesses struggling to access essential credit, Invest NI set up its Access to Finance Programme and it has safeguarded or created thousands of jobs,” Minister Archibald said.

“There is still a strong need for government intervention on this issue and so today we launch three new funds. This £100million public investment is expected to attract over £150million in private finance, potentially resulting in a total investment of more than £250million over the next 10 years.”

“These funds will particularly support start-ups and SMEs. As the backbone of our economy, access to finance for these types of businesses is crucial.”

Supporting Business Growth and Innovation

Since its inception in 2011, the Access to Finance initiative has benefited more than 1,250 businesses, contributing to the creation and safeguarding of over 5,000 jobs and generating more than £500million in economic activity.

The latest round reaffirms the government’s commitment to strengthening the entrepreneurial ecosystem and supporting economic resilience.

Kieran Donoghue, CEO of Invest NI, highlighted the impact of the programme to date and its strategic alignment with Invest NI’s wider goals.

“Since 2011, our Access to Finance initiative has bridged a gap in private sector funding and provided much-needed support to SMEs in Northern Ireland. Because of these funds, SMEs, start-ups and entrepreneurs have been able to break into new local and global markets, drive innovation, and support business expansion,” he said.

“Boosting business investment is one of six key objectives in Invest NI’s three-year Business Strategy. For this reason, we have committed £100million across three funds – two equity and one debt – to provide access to essential investment to help our local companies grow, export and innovate.

“The scale of this funding will positively impact our economy long into the future, enabling us to grow the sustainable, competitive economy that Northern Ireland deserves.”

The Three New Funds

The newly launched funds will operate on a commercial basis and will be overseen by Financial Conduct Authority (FCA)-approved fund managers, each responsible for their own investment decisions.

The funds are as follows:

• TechStart III: A £55million fund, including a £7million Proof of Concept grant, managed by TechStart Fund Managers. The fund is aimed at early-stage tech entrepreneurs, helping to commercialise innovative ideas.

• Co-Fund III: A £39million equity fund managed by Clarendon Fund Managers, which will co-invest alongside private investors and business angels to support scaling businesses.

• Small Business Loan Fund III: A £6million loan fund managed by Ulster Community Finance, providing loans ranging from £10,000 to £125,000 for established micro-businesses and SMEs.

Access and Further Information

Access to Finance is open to all Northern Ireland-based businesses that meet the individual fund criteria. Businesses interested in applying or learning more about the specific eligibility requirements can find detailed information at www.investni.com/finance.

This funding announcement marks a significant step in enabling local enterprises to thrive in competitive markets and supports the broader objective of building a robust, innovative economy for Northern Ireland.