Over £275m invested in North East and Tees Valley, creating over 2,000 new jobs

Venture capital investor Northstar Ventures celebrates the milestone of investing over £95m into small and medium-sized businesses and social enterprises across the North East of England since 2010.

The investment has attracted over £180m of additional investment alongside it from Northstar’s network of national and international angel, corporate and institutional co-investors, amounting to a combined £275m in total investment into the region.

This investment is driving the creation of new, high-quality jobs vital to the prosperity of the region with over 2,000 jobs created by Northstar-backed companies.

Alasdair Greig, Northstar director, commented: “We are delighted to support the local economy with critical funding for growth.

“Our portfolio companies are delivering world-beating technology on our doorstep, including Advanced Electric Machines producing motors for the electric cars of the future, Low Carbon Materials recycling plastics into building materials and AMLo Biosciences providing early cancer diagnostics.”

“The North East is now a focus on the global map. It is in the top 200 tech ecosystems in the world, with world-class opportunities in areas such as Clean-tech and Life Sciences, over £1bn in investment opportunities coming out of its world renowned universities and is increasingly appealing to founders priced out of the South of England.”

Ian Richards, Northstar director added: “Later this year we will release our first ESG and Impact Report, which will not only highlight the positive societal and environmental impact of our portfolio companies, but also the increasing focus we are putting on such crucial factors as carbon impact, diversity and inclusion, and governance standards in our investment decisions.”

Jane Reynolds MBE, Northstar business development manager and Chair of Tees Valley Business Club, concluded: “In both my roles I encounter many entrepreneurial SMEs. It is truly a wonderful thing to be able to support them in their growth journey, providing finance and advice as they take the next steps expanding their businesses.

“These small and growing businesses form the backbone of the economy employing skilled staff and creating wealth in our region.”

By Matthew Neville – Senior Correspondent, Bdaily

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