A new £10m Seed Fund designed to accelerate the growth of innovative early-stage businesses across the Liverpool City Region was officially unveiled at the Liverpool City Region Combined Authority’s flagship business conference – LCR Talking Business.
Why it matters: The LCR Seed Fund aims to support local talent, create high-quality jobs, and help businesses grow, benefiting both the regional and national economy.
The details:
- The fund will support innovative scale-up businesses with high-growth potential, offering an alternative to traditional grant and debt financing.
- It is open to businesses across all sectors, particularly encouraging applications from companies in Advanced Manufacturing, Digital and Creative Industries, and Health and Life Sciences.
- Investment opportunities range from £250,000 to £2m, targeting businesses with innovative products or services, a clear route to market, and strong potential to scale.
- The fund is expected to improve the success rate of scale-ups, attract inward investment, and enhance the broader business support ecosystem across the city region.
The fund will be managed by AXM Venture Capital Limited and is designed to help the city region reach its target of spending 5% of its economy on research and development (R&D) by 2030 – nearly double the national target.
What they’re saying:
- “Small businesses are the bedrock of our economy – not just here in the Liverpool City Region, but across the country. They make up 99% of all companies in our area and are the engine of innovation, opportunity and job creation,” said Liverpool City Region Mayor Steve Rotheram.
- “But I hear all too often from local entrepreneurs that, when it comes to scaling up, the support just isn’t there – especially outside London. We’re stepping in with a £10m fund to help turn great local ideas into thriving national success stories.”
- “We are delighted to have been awarded the mandate to manage the LCR Seed Fund and build on our success in investing in the Liverpool City Region from the North West Fund 4 Digital and Creative. We are excited by the applications we have already received and look forward to helping successfully grow innovative scale-ups across the region,” said Rupert Wingate-Saul, Investment Director at AXM Venture Capital Limited.
What’s next: Applications for the LCR Seed Fund are now open. The fund is a key part of the Mayor’s wider strategy to fuel business growth and generate high-quality jobs, working closely with key partners to make it easier for entrepreneurs, start-ups, and businesses across all sectors to unlock their full growth potential.