North East companies looking for investment to help grow their business, create jobs and deliver new innovations are being invited to breakfast events being held to mark the launch of the North East Fund (NEF), a £120m investment pot delivering significant funding opportunities to regional SMEs.
The events, taking place in Sunderland, Northumberland, South Tyneside, Durham, Newcastle, North Tyneside and Gateshead over the forthcoming weeks, are open to SMEs throughout the region who may be considering funding to develop new ideas, accelerate future growth or engage new technologies in order to unlock their potential.
They will provide a unique opportunity for business owners to meet with North East Fund managers and local economic development representatives 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.
Also in attendance will be business owners who have previously accessed funding to enable growth.
Andrew Mitchell, CEO of North East Fund Limited explained, “This is a great opportunity for regional business owners 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 The North East Fund Limited (TNEFL) and delivered through four specialist fund management organisations including Mavan Capital Partners, NEL, Northstar Ventures and Mercia Capital Partners. It comprises of five separate funds that are available to SMEs across seven local authorities.
Events include Sunderland Software Centre on Thursday 10 May, Wansbeck Workspace (Ashington) on Friday 11 May, Jarrow Hall (Jarrow) on Friday 18 May, Ramside Hall (Durham) on Friday 25 May, City Library (Newcastle) on Wednesday 30 May, Town Hall (Wallsend) on Wednesday 13 June and Northern Design Quarter (Gateshead) on Wednesday 20 June.