VENTURE fund manager EV is to open a Liverpool office next month, and has announced £1m backing for a Wirral biotech firm.

EV already operates in Birmingham, Leeds, Manchester and Preston and will open a base on March 1 in Horton House, Exchange Flags. The fund manager has been active in the region for a while, but decided to establish a city presence after being chosen to manage the £30m North West Fund for Venture Capital, which provides support for entrepreneurs to build high-growth companies.

Chief executive Jonathan Diggines said: “We have planned our Liverpool office for some time. We have invested throughout Merseyside for years, and now intend to increase our activity.”

Meanwhile, EV Tech, the technology investment arm of EV, has provided further funding to Bromborough-based molecular diagnostics company, Biofortuna following an initial investment in May, 2010.

The funding, provided alongside Catapult Venture Managers, Merseyside Special Investment Fund and the company’s non-executive directors, is part of a £1m package which will be used to develop the market for the company’s testing product used in organ transplants, disease identification and blood banking.

Chief executive Mike Bunce said: “This further investment will enable us to consolidate our position as a unique global innovator.”