SME investor BGF launches Newcastle base

SME investor BGF has established a base in Newcastle as its operations continue to grow.

The organisation said its new office, located in Waterloo Square, will help it build closer connections with businesses and advisors in the region.

BGF has announced investments totalling £16.5m in two North East companies in the last four weeks.

Sunderland-based behavioural marketing technology company SaleCycle received £11.5m to support its international expansion and open offices in New York and Japan.

Elsewhere, Alnwick life sciences firm Arcinova secured £5m to drive innovation and unlock growth overseas.

Together, the deals bring BGF’s investment in the region close to £70m to date.

BGF chief exec Stephen Welton said: “More than 70% of our investments are outside London. We have always believed that if you get outside of the capital, set up in cities around the country and empower strong local teams to have relevant conversations with local businesses – you will see results.

“We have already invested in a number of fantastically exciting companies in the North East since 2011, across different stages and sectors.”

He continued: “We’re delighted to be setting up a base here, which signals our intent to make more investments and help more companies reach their potential. There is no doubt that proximity makes a difference.”

Richard Taylor and Barry Jackson will run BGF’s Newcastle base with support from the wider Northern team.

Barry commented: “BGF provides long-term investments as a minority, non-controlling partner to entrepreneurs and company owners.

“We are in the business of identifying promising companies and helping them to grow, to be more successful and to achieve their ambitions at home and abroad.”

He added: “We are very much looking forward to contributing even further to the North East business community from our new base.”