FinanceCamp opens the door to North East Fund for growing businesses and entrepreneurs

Businesses seeking information and access to the recently announced £120m North East Fund will have the chance to meet with Fund Managers on  July 5 at FinanceCamp.

Alongside the opportunity to discuss the different types of finance available via the fund, directly with the managers responsible for awarding investment, delegates will also hear from the North East Fund’s Chief Executive, Andrew Mitchell.

Andrew has established a series of innovative investment rounds including the JEREMIE fund, which preceded the current North East Fund. With a background working in banking and management consultancy, and as an entrepreneur, he has a unique insight into the funding needs of growing companies.

Speaking about the event, he said: “The North East Fund will open the door for a lot of businesses and entrepreneurs who are looking to take the next step in their growth journey. Figuring out what type of finance is right for them can often be a daunting task, and FinanceCamp is a great opportunity to make sense of the funding landscape. I’m thrilled our fund managers will be in attendance to discuss the options available to businesses and I’m looking forward to speaking to delegates on the day.”

The North East Fund is a £120m investment programme available to SMEs across Durham, Northumberland and Tyne and Wear. There are five funds – each with a different investment focus to suit the growth needs and sectors of applicant businesses.

Innovation Fund, managed by Northstar Ventures: The Innovation Fund looks for strong teams with scalable opportunities and invests up to £500,000 by way of loans or equity.

Venture Fund, managed by Mercia Tech: The Venture Fund can invest up to £1m at any stage in the business life cycle.

Development Capital fund, managed by Maven Capital Partners: The Development Capital Fund can invest from £400,000 to £2 million to support established businesses via debt finance, mezzanine loans or equity investment.

Growth Capital Fund, managed by NEL: The Growth Capital Fund backs ambitious businesses with investment of up to £500,000 to accelerate growth potential.

Small Loan Fund, managed by NEL: The Small Loan 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.

Taking place on Thursday 05 July at St James’ Park, FinanceCamp focuses on growing the regional economy by bringing businesses with bright ideas together with the finance they need to grow.

Estelle Blanks, Executive Director at the Innovation SuperNetwork who organise FinanceCamp, said: “The North East Fund Managers are a great addition to the broad range of investors and lenders who take part in FinanceCamp, providing more detailed information about the available options for businesses in need of investment to grow.

“We work closely with businesses to ensure they are prepared in advance of the event with a series of workshops to not only understand investor needs, but perfect their pitch, ensuring they have the best chance of success when coming face-to-face with investors and lenders on the day.”

Last year, FinanceCamp attracted a wide variety of regional and national investors, including venture fund managers, angel investors, banks, social investment funders and crowdfunding platforms.

More than just an event, FinanceCamp is a programme of investor readiness opportunities for businesses ensuring they maximise their chances of securing the funds they need. With access to experts in a range of professional fields businesses are given the advice they need to strengthen their business proposition, consider different finance options and understand investor needs.

For more information and to apply, visit www.FinanceCamp.co.uk.

FinanceCamp is part of the wider Innovation SuperNetwork programme, delivered with over 50 partner organisations to support innovation in the North East. Innovation SuperNetwork is supported by the North East LEP, Innovate UK, Northumbrian Water, Reece Innovation, Engie and the North East BIC, with part-funding from the European Regional Development Fund.