INVESTING in enterprise in the North East is critical to the region’s economic and commercial success, and over the past 18 months, the Finance for Business North East funds have sustained and even stimulated investment in regional businesses.
Newcastle-based Northstar Ventures, the North East’s most active venture capital firm, continues to invest in local entrepreneurs with innovative science and technology-based ideas, as well as existing companies looking to expand.
With three funds actively investing in the North East, Northstar can provide valuable capital and business expertise for SMEs and start-up companies.
The £15m Proof of Concept Fund, which supports technology-based projects with investments of between £20,000 and £100,000, and the £20m Accelerator Fund, which invests up to £750,000 in early stage high potential enterprises, are both part of the £125m Finance for Business North East programme.
Backed by One North East, the European Regional Development Fund and the European Investment Bank, these funds have invested into 60 companies across the region since the start of 2010.
In addition to technology and traditional sectors such as manufacturing and healthcare, Northstar also covers the region’s flourishing creative sector with the £2.4m Creative Content Fund, backed by the ERDF and supported by Northern Film & Media.
Eleven commercial creative projects in the North East have so far benefited from investments of between £50,000 and £250,000, including companies in the TV, film, interactive media and games industries.
As one of the first ports of call for regional SMEs looking for growth capital, the funds under management at Northstar have a pivotal role to play in stimulating economic growth across the region.
Marion Bernard, chief executive at Northstar says: “Northstar’s three actively investing funds provide an exciting opportunity for entrepreneurs to access the finance they need to get started and grow.
“The diversity of experience and expertise within the Northstar investment team facilitates successful deals into innovative businesses across a range of sectors – and our fund managers are happy to give guidance to entrepreneurs with investment proposals.
“Whilst the funds provide essential capital for growth, financial investment is only one part of Northstar’s offering to SMEs in the region – our investment managers also provide businesses with a global network of contacts, as well as deals syndicated with private sector co-investors, and detailed operational and strategic expertise.”
Northstar Ventures is always keen to hear from ambitious entrepreneurs across the region, contact: Northstar Ventures, Maybrook House, 27-35 Grainger Street, Newcastle, NE1 5JE, tel: 0191 229 2770 www.northstarventures.co.uk