What is it?
The North East Fund is a suite of five venture capital and loan funds which was established in April 2018, to invest £120m in around 600 North East businesses in the period to March 2023. The fund managers provide business development advice and investment finance to small and medium sized enterprises based in the seven Local Authority areas of North East England: Northumberland, North Tyneside, Newcastle, South Tyneside, Gateshead, Sunderland and County Durham. The programme encourages investment in and the commercialisation of new technologies, including low carbon technologies, as well as stimulating new business creation, private investment and entrepreneurialism in the North East, with a view to creating over 2,500 new jobs. The North East Fund has overall responsibility for the programme, which is delivered through five separate funds, each managed by independent, FCA regulated fund managers – as detailed in “The Funds” section of this website.
The North East Fund has been established with funding from the North East of England European Regional Development Fund programme, the European Investment Bank and from returns on previous North East based, publicly supported investment funds, with the support of the Department for Business, Energy and Industrial Strategy and the British Business Bank. It is jointly owned by the seven North East local authorities: Northumberland County Council; The Council of the Borough of North Tyneside; South Tyneside Council; Newcastle City Council; Sunderland City Council; Gateshead Council and Durham County Council.
Growing companies looking for growth investment