High-Level bridge, Newcastle upon Tyne

North East Access to Finance – Supporting the Region’s Businesses

North East England led the way in the provision of publicly backed investment funds to support local SMEs. North East Access to Finance oversees the investment returns generated by these funds, which were supported by the European Regional Development Fund (ERDF) and UK Government.

We work closely with Local Enterprise Partnerships and funders to re-invest returns, and to secure match funding, for the benefit of future North East businesses. We have also commissioned research to provide a sound evidence base underpinning how these funds operate.

The new North East Fund will be a suite of publicly-backed venture capital and loan funds, operating on a ‘Fund of Funds’ model, supporting small and medium enterprises in the North East Local Enterprise Partnership Area in the period from 2017 until 2023. It will allocate around £120m of capital between five individual sub-funds, each managed by an FCA authorised fund manager, and will build on the success of the North East JEREMIE fund, which invested £160m between 2010 and 2016. The fund is delivered by its own Implementing Body, made up of experienced personnel based in the North East. More details can be found here.

Meanwhile, Tees Valley Combined Authority is part of the wider area covered by the Northern Powerhouse Investment Fund. Details of this initiative can be found here.

These funds will receive significant contributions from ‘legacy’ returns held by North East Access to Finance, alongside ERDF and European Investment Bank funding. To date, over £25m of legacy cash has been generated for re-investment in new initiatives.

For business support advice, please call the helpline on 0300 456 3565 or use the online search facility at www.gov.uk/business-finance-support.


 
The information on this website is meant only as a guide and we are not responsible for actions taken in reliance on it. NEA2F accepts no responsibility for the content or accuracy of any external publication or website referred to. Every reasonable endeavour has been made to ensure that information on this website is accurate and up to date, but we cannot give any warranty or representation that this is the case.

Current Opportunities

 Recruitment of Non-Executive Director for North East Finance

North East Finance Holdco Limited (NEF) is seeking to appoint a capable individual as a non-executive director.

NEF is the holding fund manager of the Finance for Business North East (FBNE) programme, a suite of venture capital and loan funds which invested £160m in SMEs in North East England from 2010 to 2017.  NEF has been funded principally by the European Regional Development Fund, the European Investment Bank and the UK government.  There are seven sub-funds which are all now fully-invested and in their realisation phase.  The next few years remain critical to the overall success of the FBNE programme – with significant repayments due to the EIB and the imperative then to maximise the legacy of the programme, in terms of financial returns for reinvestment in the North East and the impact on business in the region. 

NEF seeks a director who can help the company achieve these objectives and who will assume a major role in the governance of the company. The successful applicant will have experience at board level in a venture capital or private equity business and/or a track record in corporate finance, investment banking or broking and strong networks with key players in the SME investment sector. 

Closing date 25 August 2017: see link for further details and application process.

 

 

LINK FOR DETAILS