Grow:Offshore said it had helped over 900 companies so far, by assisting with marketing innovations, purchasing equipment and research and development.
The fund was launched in 2013, backed by the UK government's regional growth fund, the department for business innovation and skills ad the Manufacturing Advisory Service.
The investments are thought to have saved over 1,150 jobs and created a further 2,500, according to Grow:Offshore.
In May, Grow:Offshore announced it would grant up to £3 million to help accelerate innovation for offshore operations and maintenance technology.
In September, it launched two fast-track funding calls, totaling £4.5 million. The funding was designed to increase the role of English manufacturers in the supply chain.
Last week, Blade Dynamics received a £500,000 grant to help develop advanced blade tips. The tip is designed to increase the performance of the blades.
