NORTH East venture capital boss Marion Bernard is leaving the region to take up a senior post with the Government’s recently launched £2.5bn Business Growth Fund (BGF).

Bernard will be leaving her current post as chief executive of Newcastle- based Northstar at the end of the month, following six years in the job, to take up the role of BGF regional director for London and the South East.

The BGF was recently established by the Government to help Britain’s fast- growing smaller and medium-sized businesses access development capital of between £2m and £10m.

Bernard said: “It has been an absolute privilege to work in the North East, and to have had the opportunity to bring together such a fantastic team that is delivering so much for the long- term benefit of the region.

“As well as provide much-needed finance, Northstar offers entrepreneurs commercial advice, networks and access to other sources of funding.

“The BGF has a strong regional focus and in my new role I look forward to continuing to work closely with the finance and business community across the North East. My aim is to maintain and assist my North East contacts.”

Richard Maudslay, chairman of NF Holdings, which oversees the operation of Northstar said: “The directors of NF Holdings would like to take this opportunity to thank Marion for her excellent leadership of Northstar since 2005 and the valuable contribution she has made to the North East.”

From two members of staff in 2005, Northstar now has a team of 14 managing £80m funds, led by Alasdair Greig and Ian Richards.