Venture capital is available for pre-start and early-stage small to medium-sized enterprises in the North East of England.
The £20 million Accelerator Fund is managed by Northstar Ventures on behalf of North East Finance as part of its overall £125 million Finance for Business North East Fund, a regional ‘fund of funds’ that offers venture capital investment for small to medium-sized enterprises.
The Accelerator Fund is targeted at high-growth, innovative companies at an early stage of their development, primarily the start-up or seed capital stages. The Finance for Business North East Fund is available to businesses that:
- Meet the definition of a small to medium-sized enterprise.
- Are located in the North East of England.
- Have a viable business proposition that will be able to make returns to the fund.
- Do not operate in a European Commission restricted sector (for example agriculture, defence, financial services, coal and steel).
To be eligible for investment under the Accelerator programme businesses should have:
- A strong management team with the ability to grow the company quickly.
- A focus on under-served, growing and potentially substantial markets.
- Products with international potential.
- Ascalable business model.
Investments range from £100,000 to £750,000 in the first instance, with the maximum amount invested into any one company limited to £2 million. Applications may be made at any time.
For more details please visit: http://www.northstarventures.co.uk/our-funds/current-funds/north-east-proof-of-concept-fund/
Source: Northstar Equity Investors, 12/09/2012