Getting to know Jeremie
by Mark Adams 22 Jun 2011
The new £125 million "JEREMIE" fund (also known as the "Finance For Business" initiative) is now available to North East businesses looking for investment capital. Could your business benefit from an investment of £50,000 - £1.25 million?
The overall fund is divided into 6 distinct funds, each of which is managed by a fund manager. If your business has the potential for growth, then we can introduce you to the appropriate fund managers.
Please read on for further information on each of the 6 funds and their specific areas of investment.
North East Technology Fund
This £25 million fund has been set up to support technology businesses within the North East from start-ups to more established businesses.
Funding (whether through debt, equity or a combination of both) will be available up to a maximum of £1.25 million.
North East Seed Fund
The seed fund consists of £20 million to invest in early stage businesses within any eligible sector.
The fund managers are looking to maximise co-investment with private investors, with funding expected to range up to a maximum of £750,000.
North East Growth Fund
This is a £20 million fund which is aimed at reasonably mature and established companies within the region looking for growth capital.
It is looking to make investments of between £150,000 - £200,000 per business.
North East Growth Plus Fund
This £20 million fund is looking to invest in mature companies.
The fund managers are looking to make larger funding packages than the North East Growth Fund, with typical investments likely to range between £500,000 - £1.25 million per business.
North East Proof of Concept Fund
This £15 million fund will be making investments in the technology sector only.
The funds are to be utilised for those concept projects which can demonstrate potential for creating commercial opportunities within the region. In addition, to assist their development, eligible businesses will be given the opportunity to work alongside Centres of Excellence, regional universities and entrepreneurs.
North East Angel Fund
The North East Angel Fund is a £7.5 million fund offering investments of between £50,000 - £150,000 to businesses looking to work closely with business angels.
The majority of funding will be aimed at early stage businesses and will be available to businesses in most sectors.
For more information or advice please contact Mark Adams on 0191 232 8345 or email mark.adams@hay-kilner.co.uk.
Please note:
This article is not legal advice; it is intended to provide information of general interest about current legal issues. Please contact us to discuss how the contents of the article may affect you.
