Northstar Ventures to invest £6m in 2016

Northstar Ventures to invest £6m in 2016

Venture capital firm Northstar Ventures is looking to invest £6m in North East businesses in 2016.

With offices in Newcastle and Darlington, the team at Northstar would like to speak to start-ups and SMEs located in, or with significant operations in, the North East.

Companies that are willing to locate to the region are also invited to apply for the Finance for Business North East Accelerator and Proof of Concept Funds.

Ian Richards, director at Northstar Ventures, said: “We have been partnering with North East SMEs for over a decade, and are pleased to be able to continue to do so with the £6m extension funds we have to invest.

“Whether you are a small team with ambitions to build disruptive tech solutions, or an established company that needs support to scale your operations, our team is able to provide both financial and business support.”

One of the companies Northstar Ventures has supported in the past was utility bill start-up, One Utility Bill, with an investment from the Proof of Concept Fund.

Chris Dawson, co-founder of One Utility Bill, said: “We received a six-figure investment from Northstar Ventures alongside angel investors, after graduating from the Ignite Accelerator programme in 2015.

“The investment allowed us to grow our company quickly, signing up new landlords and letting agencies to our shared bill paying platform. It also supported the creation of 8 full time roles. 

 “We’ve worked closely with Northstar Ventures since One Utility Bill’s early days, receiving mentoring and advice from the team as part of Newcastle University’s Founderships programme and Ignite.

“We continue to work closely with them and really value having a long-term partner who believed in our ideas from the start.”