Andrew Mitchell
Andrew Mitchell and Jonathan Taylor.
Rebecca Wayman

North East Fund event will target Newcastle SMEs with £120m investment up for grabs

Newcastle companies looking for investment to help grow their business, create jobs and deliver new innovations are being invited to an event held to mark the launch of the North East Fund (NEF).

The fund is a £120m investment pot delivering significant funding opportunities to regional SMEs.

The event, taking place from 10am tomorrow (Wednesday May 30, 2018) at City Library, Newcastle, is open to companies operating across all industries who may be considering funding to accelerate future growth, develop new ideas or engage new technologies.

The event aims to provide an opportunity for business owners to meet with North East Fund managers, local economic development and financial representatives.

Attendees will be able to discuss the benefits of investment for growth, obtain information regarding the five separate fund categories available within the North East Fund and network with other organisations who have previously gone down the investment route to achieve success.

Andrew Mitchell, CEO of North East Fund Limited, said: “This is a great opportunity for Newcastle businesses to come along, find out more about the North East Fund and what exactly is available to them in terms of investment opportunities.

“More than £120m of investment is now accessible over the next five years through five different funds, namely The Venture Fund, The Development Capital Fund, The Growth Capital Fund, The Small Loans Fund and the Innovation Fund, and we anticipate over 600 businesses across the North East could directly benefit from it.

“This could also mean the creation of approximately 3,500 jobs which is a fantastic prospect for the region and will also create a legacy of around £80m for further investment.”

The North East Fund is managed by North East Fund Limited (NEFL) and delivered through four specialist fund management organisations including Maven Capital Partners, NEL, Northstar Ventures and Mercia Fund Managers.

It comprises of five separate funds that are available to SMEs across Newcastle, Durham, Sunderland, Northumberland, North Tyneside, South Tyneside and Gateshead local authorities.

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