A North East finance professional has come home to join regional fund management firm NEL Fund Managers’ investment team.
Mike Guellard has joined the Newcastle-based firm as an investment executive, and is now part of the team working with businesses looking for investments from the Finance For Business North East Growth Fund that NEL manages, helping them shape their business plans and successfully complete the application process.
After growing up in Ponteland and gaining a law degree from Nottingham University, Mike initially joined HSBC and worked in a number of different positions in branches across the North East before moving on to work for financial administration firm Entrust.
He then moved to London to work for business microloan provider Fair Finance, helping it expand its services right across the UK, before subsequently joining Funding Xchange, a portal through which businesses looking for investment could find funding options to suit their particular needs.
Mike Guellard says: “My new role gives me the chance to get out and about right across the North East to talk to ambitious companies about the things they need to keep growing, and to show them how we could provide the investment funding required to make these plans a reality.
“I knew of NEL from my previous roles in the North East and jumped at the chance to talk to them about coming home, especially as it would allow me to take up my Newcastle United season ticket once again!
“It’s a really interesting time to be joining the team and we’re working very hard to get the best of the business plans that we’re receiving through the Growth Fund application process as quickly as we can.”
The Finance For Business North East Growth Fund is a general investment fund that is aimed at businesses at a development and growth stage that are based anywhere in the region, and from which investments of up to £400,000 can now be made.
NEL has so far invested over £25m from the Fund, making 125 investments with an average deal value of £204,000, and is continuing to actively search for more North East businesses looking for the capital they require to implement robust growth and development plans.
Yvonne Gale, chief executive at NEL Fund Managers, adds: “Mike has terrific hands-on experience of working with small and medium-sized businesses to access the investment they need to help them grow.
“His passion for the North East is also extremely clear, and we’re very pleased to be welcoming him back to the region to be part of our team.”
Established by holding fund manager North East Finance (NEF) in 2010, the £159.5m Finance for Business North East (FBNE) programme is a suite of seven venture capital and loan funds which provide investment for start-up and growing businesses in the North East of England. They will continue investing until 2016, and aim to support 950 companies and to create or safeguard almost 10,000 jobs.
For more information about NEL’s investment criteria, visit www.nel.co.uk or contact the investment team on 0345 369 7007.