The deal is a break from the norm for the investment house, given that it usually supports growing businesses in the North East, rather than start-up ventures.
But, with a number of heavyweight banking professionals and entrepreneurs already on board at Atom, the bank is perhaps not a conventionally embryonic early stage business.
Jeremy Middleton said: "This investment reflects my belief that we need more high quality national businesses in the North East. The efforts of organisations such as the North East LEP are helping to create an environment in which such businesses can thrive and Atom Bank is leading the way in recognising this and acting."
Atom is the brainchild of Metro Bank founder Anthony Thomson and the ex-chief executive of First Direct, Mark Mullen. It expects to initially create 300 jobs when launched.
Other notables to have joined the Atom bandwagon include outgoing North East LEP director Edward Twiddy, who will serve as chief operating officer, and Craig Iley, who has made the switch from Santander regional director to Atom’s MD.
Founder Anthony Thomson said: "Support and investment from organisations such as Middleton Enterprises and influential individuals such as Jeremy will help to get Atom Bank off to a great start. This is a very important endorsement for the bank, not only because of the finances involved, but because investors and business leaders in the region recognise that Middleton Enterprises support businesses they believe have great potential to improve the economy in the North East."
Jeremy Middleton is a high-profile entrepreneur and philanthropist based in Newcastle. He co-founded HomeServe, now a FTSE 250 company which operates in the UK, the USA, France, Spain and Italy, and remains a shareholder with a seat on the executive committee. He is a director at North East based energy and water consultancy company Utilitywise PLC.
He has been a board member of the North East Local Enterprise Partnership (LEP) since 2011 and is chairman of the North East LEP Investment Fund, which makes recommendations to the LEP Board for the £25m Growing Places Fund and the £30m Infrastructure Fund.
In 2012 he was awarded a CBE in the Queen's Birthday Honours List for services to politics and charities.
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