The Chrysalis Fund launched in March 2012 to kick start regeneration across Merseyside.

The £39m fund is being invested in commercial property and regeneration projects throughout the city region. Projects benefiting from funding to date include the Watson Building in Liverpool city centre, Knowsley-based electric cable manufacturer Tratos UK and the new exhibition centre linked to ACC Liverpool.

Eligible local authorities include Liverpool, Sefton, Knowsley, St Helens and Wirral. The investment policy is guided by the requirement to deliver projects within Merseyside’s sites of regional importance but also more generally in terms of projects that support employment creation in areas in particular need of regeneration.

The funding has been allocated from the North West’s share of the European Regional Development Fund as part of the Joint European Support for Sustainable Investment in City Areas (JESSICA) initiative, which was introduced into the UK by the European Investment Bank and is now handled by the Homes and Communities Agency (HCA).

The Fund is managed by the Igloo Consortium, which is made up of Igloo, Bilfinger GVA and RBC Capital Markets.