Thefirm behind the Finance for Business North East Angel Fund has helped 66 small businesses achieve their growth ambitions in the last year.
The funding has helped boost the regional economy year-on-year since its inception five years ago creating over £70m worth of turnover in the North East.
As well as boosting turnover, the fund’s portfolio has also helped create and safeguard over 600 jobs in the region.
Dr Michael Dickens, fund manager at Rivers Capital, said: "The non-sector specific nature of the fund means the investee companies truly represent the North East as a world leader in engineering, automotive supply chain, university spin outs, and digital creative, mobile app and gaming sectors.
“The fund has now contributed £100m to the North East economy over the last five years providing what we at Rivers Capital believes is a positive impact to the regional economy in addition to supporting innovate high growth companies and jobs in the area.”
One of the main sectors to benefit from the fund is the region’s fast-growing digital creative industry with a number of Teesside firms capitalising on the funding.
With Robo Pixel Games, Orca Mobile and Hexdragonal Games receiving investment this year alone operations from the Rivers Capital Teesside office has never been busier.
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