New boss at venture capital firm

Jun 10 2009 by Peter McCusker, The Journal

ONE of the North East’s most active venture capital firms, NorthStar Equity Investors (NSEI), has a new chairman.

Antony Ross is succeeding Chris Thompson as NSEI looks to extend its range of funds under management.

Ross has 21 years of industry experience, including 15 years at 3i plc and five years as a director of Bridges Community Ventures.

He is also a teaching fellow at London Business School’s Faculty of Entrepreneurship and was one of the founding non-executive directors of NSEI.

Outgoing chair Mr Thompson, CEO of the Express Group, deputy chair of One North East and chairman of the Tyne and Wear Partnership, steps down after a five-year stint during which NSEI invested £33m of North East Proof of Concept (POC) and Co-Investment (CoIF) funds, creating a further £60m investment in the region.

CEO Marion Bernard said: “This is an extremely exciting time for NSEI as we continue to go from strength to strength.

“We’re incredibly grateful to Chris for his strong leadership since NSEI was established in 2004, during which time we have demonstrated successful funding models through our Proof of Concept and Co-Investment Funds, and created the basis for an expansion of this Newcastle based venture capital business. Antony has exceptionally good knowledge of the venture capital industry and also understands the market place very well.

“It’s a real pleasure to welcome him on board in this new capacity and the whole team looks forward to working with him to make 2009 a hugely successful year both for NSEI and the innovative, high growth businesses on our portfolio.”

Mr Ross said: “NSEI has a great track record and great team led by Marion. It has supported many growing businesses in the North East and has already made a real impact on the region.

“It’s a privilege to take the position of chair and support the team as they build the NSEI business further.”