Managers have cause to celebrate

Jul 1 2009 by Peter McCusker, The Journal

A VENTURE capital firm is celebrating its 20th anniversary after two decades spent helping hundreds of North East firms get off the ground.

Newcastle-based NEL Fund Managers was set up in 1989 to provide unsecured loan funding to regional businesses and has since gone on to manage ten funds with a combined value of over £70m.

Hundreds of companies and thousands of jobs in every part of the region have been supported by investments made from these funds by NEL and its two divisions, debt and mezzanine finance division Evolve Finance and venture capital division NEL Capital.

Chief executive Barrie Hensby, who has led the NEL team for the last 18 years, said: “The company was originally formed to fill the ‘equity gap,’ providing funds to enable regional businesses to realise commercial ambitions that they wouldn’t otherwise be able to achieve, and 20 years on, we’re continuing to provide this invaluable service to companies right across the North East...

“We’re proud to have played a part in the success of so many companies.”