The Finance for Business North East Growth Fund was invested by NEL Fund Managers and is currently in its realisation stage.
During its investing period of 2010 to 2016, the North East Growth Fund invested £30m, enabling the sustainable growth of the North East economy through mission-led impact investing. The Fund supported 146 business plans, directly impacting over 1,700 North East jobs and attracting over £25 million of additional private investment to the region. The Fund has already returned over £25 million to it’s investors. It is expected be fully realised in 2020.
“We’ve been delighted with the performance of the North East Growth Fund and the cash returns achieved demonstrate the quality of the investment decisions made by Yvonne and her team over many years” – Andrew Mitchell, chief executive at North East Finance.
NEL Fund Managers has successfully invested and fully realised 12 funds. These mission-led investment funds have offered a range of debt, mezzanine and equity finance to businesses across all life stages, from university spin-outs and start-ups to succession takeovers and scale-ups.
Included in our fund portfolio are 5 Regional Investment Funds totaling over £41m. These funds were made possible by repeated investment from the same pool of investors who were passionate about the Funds’ mission: ‘to facilitate the creation, diversification and expansion of SMEs to create prosperity and job creation’, and confident in NEL’s ability to help make it happen.