North East Fund
The North East Fund is a £120m investment programme available to SMEs across Durham, Northumberland and Tyne and Wear. Businesses relocating to the area may also be eligible. There are five funds – each with a different investment focus to suit the needs of SMEs depending on the sector in which they operate and where they sit on the growth curve
The Innovation Fund looks for strong teams with scalable opportunities and invests up to £500,000 by way of loans or equity. Where possible, it provides further investment to support accelerated growth.
If funding of more than £500,000 is required, the fund managers work with SMEs to identify potential investors who may provide additional finance as part of a syndicate.
The fund is managed by Northstar Ventures.
The Venture Fund can invest up to £1m at any stage in the business life cycle but is specifically looking for those firms which are engaged in innovation or developing disruptive business models.
Funding is available to all companies with high growth potential and also pre-start enterprises. The fund aims to provide a range of investment products, tailored to each specific requirement, including both equity and mezzanine debt. The fund can either act as the lead investor or participate in syndication deals with others.
The fund is managed by Mercia Asset Management
DEVELOPMENT CAPITAL FUND
The Development Capital Fund can invest from £400,000 to £2 million to support established businesses via debt finance, mezzanine loans or equity investment to help fulfil their growth potential. The Fund targets dynamic companies with strong management teams and ambitious growth plans.
Funding packages can be tailored to individual business needs, with Maven providing both operational and strategic support. Maven can lead or syndicate investments and Maven’s other funds can provide up to £15 million in a single transaction to finance development capital and MBOs.
The fund is managed by Maven Capital Partners (Maven).
GROWTH CAPITAL FUND
The Growth Capital Fund backs ambitious businesses with investment of up to £500,000 to accelerate growth potential. The Fund can support a wide variety of growth plans and targets established businesses with strong management teams. Bespoke funding packages can be tailored to individual business needs, typically via debt finance, mezzanine loans or equity investment.
Repeat financing or co-financing with other funders to support plans requiring more than £500,000 can also be arranged where appropriate. Funding is typically provided on an unsecured basis without the need for Director’s Guarantees.
The fund is managed by NEL Fund Managers.
SMALL LOAN FUND
The Small Loan Fund backs small businesses with big plans. The Fund can support a wide variety of growth plans and typically advances loans of between £10,000 and £50,000 to support actively trading North East businesses. Businesses with a limited trading history are also eligible for support where a clear route to generating sales in the short term can be demonstrated.
Repeat financing or co-financing with other funders to support plans requiring a larger amount can also be arranged where appropriate. Funding is typically provided on an unsecured basis without the need for Director’s Guarantees.
The fund is managed by NEL Fund Managers.See more