Northstar Ventures launches new £15 million Sunderland fund

Northstar Ventures has launched a new £15 million fund to drive growth and prosperity in Sunderland.

The Venture Sunderland Fund has been designed to accelerate the growth of start-ups and scale-ups in Sunderland and is set to play a key part in the city’s transformation.

The fund will complement and leverage the £2 billion+ regeneration programme that is already underway in the city and help to transform Sunderland into one of the leading innovation hubs in the North of England.

Alasdair Greig, Northstar Ventures’ director said: “Venture capital is a crucial ingredient for driving growth and prosperity in Sunderland.

“It will help catalyse growth across the city’s start-up and scale-up landscape and generate the high-quality jobs needed to transform our economy, providing local people with new career paths, higher income potential and the chance to be part of innovative and dynamic global industries.”

Naomi Allen Seales, Northstar Ventures investment manager, said: “It has been wonderful to witness the redevelopment of Sunderland over the last few years.

“The Venture Sunderland Fund will build on this and support the development of the entrepreneurial ecosystem in the city, supporting talented founders to scale their businesses in Sunderland.”