SPARK Impact expands investment team for North West Fund for
9 June 2011
Early stage venture capital company SPARK Impact, which
manages the £25m North West Fund for Biomedical for parent organisation
The North West Fund, has appointed two new staff to its investment team
The Northwest Fund for Biomedical is open to biomedical companies
based in, or prepared to relocate, to Northwest England.
Dr Marc d'Abbadie has been appointed as investment director at
SPARK Impact and Dr Andy Round joins the team as an investment
Dr d'Abbadie has a wealth of entrepreneurial experience and
biomedical venture investment knowledge and was previously an
investment manager at London-based Inventages, which manages one of
the world’s largest life-science focused venture capital funds with
assets of $1.5bn.
Dr Round brings with him valuable experience of both sides of the
funding process, having invested in and built up a portfolio of life
sciences companies at IP-Group, world leaders in early stage
investment, and been part of biotechnology start-up company Micap,
which floated on AIM.
Both Dr d'Abbadie and Dr Round will be based at SPARK Impact’s
offices in the Liverpool Science Park and will work solely on the
£25m North West Fund for Biomedical. This fund, part of the £185m
Evergreen fund from the European Development Fund (ERDF) and the
European Investment Bank (EIB), was launched in February 2011 as The
North West Fund to help high growth companies in the North West
achieve their full potential.
Dr Penny Attridge, Senior Investment Director at SPARK Impact and
manager of the fund for the North West region, said: “Marc and Andy
bring with them a wealth of knowledge and experience from the early
stage technology development and biomedical sectors and we are
delighted to welcome them to the team. Our investment team work hand
in hand with companies going through the funding application
process, getting involved in everything from developing business
strategies to building top quality management teams, and I have no
doubt Marc and Andy’s expertise will be of great benefit to these
Speaking about his new role, Dr d'Abbadie said: “SPARK is one of
Europe’s leading early-stage venture capital firms and I am
delighted to join the team. I am looking forward to making
profitable investments which have a significant economic impact on
the region and which bring biomedical innovations to market that
have a real positive outcome on people’s health.”
Dr Round added: “The Northwest has such a strong heritage in the
biomedical sector and I am really looking forward to working closely
with a diverse range of biomedical companies to ensure they have all
of the business support and guidance they need to secure investment
and maximise their innovations.”
The North West Fund for Biomedical is accessible to a broad range
of biomedical companies including those developing pharmaceuticals;
new diagnostics and medical devices, and those working in the fields
of clinical research, contract manufacturing and analytical
The £25m Northwest Biomedical Fund is open to biomedical
companies based in, or prepared to relocate, to the Northwest. Over
50 businesses are expected to receive investment from the fund over
the next five years.
Andy Leach, Chief Executive of The North West Fund, said: “These
appointments represent a further strengthening of the investment
team being assembled to deliver The North West Fund for Biomedical.
With the early momentum of the fund now translating into a steady
flow of high quality investment opportunities, the experience
brought by these appointments will add further to the funds
The Northwest Biomedical Fund
- The £25m Northwest Biomedical Fund is open to biomedical
companies based in, or prepared to relocate, to Northwest
- 40% of the fund is going to be invested on Merseyside.
- Over 50 businesses will receive investment from the fund.
- Initial tranches of funding for start-up companies (up to
£50K) could be awarded six–eight weeks from the initial contact.
- Applications are now being accepted (announced June 2011).
- For more information about the fund please visit
The North West Fund
The North West Fund is a £185m evergreen investment fund
established to provide debt and equity funding from £50,000 to £2m
to small and medium sized enterprises (SMEs) based in, or relocating
to, the North West of England. The Fund is one of the largest public
sector funds of its kind in Europe and the largest in the UK.
The North West Fund is the umbrella name for the six funds that
are available to businesses in the form of debt, equity and
quasi-equity. These funds are managed by six fund managers under
contract with North West Business Finance Limited (NWBF), which has
been established to oversee the delivery of the Fund under the Joint
European Resources for Micro to Medium Enterprises Initiative
(JEREMIE) in the North West. Funding is provided by the European
Investment Bank (EIB) and European Regional Development Fund (ERDF)
Further information on The North West Fund is available at
Liverpool Science Park:
European Regional Development Fund:
European Investment Bank: