Northstar director, Alasdair Greig
Venture Capital firm Northstar Ventures has been chosen to manage the Innovation Fund as part of the recently announced £120m investment now available through the North East Fund.
Northstar director Alasdair Greig said: “We are delighted to be able to be part of this invaluable boost for regional businesses.
“Northstar already has a track record helping high-quality, regional businesses develop their business ideas and scale their businesses globally. We have supported companies all over the North East, in a variety of sectors from digital technology to energy, working in close partnership with businesses such as Zerolight, Fairstone and Low Carbon Lighting. The things they have in common are innovative ideas, big ambitions and great teams.
“We’re really pleased to be able to now look for even more entrepreneurs to work with, to help develop and scale their ideas, benefiting the businesses, creating jobs and strengthening the economy.”
North East Fund chief executive Andrew Mitchell said: “Good early-stage investors need to be there to help entrepreneurs with strategy, introductions to potential customers and partners, hiring decisions and finding great non-executive directors. The relationship is about so much more than just money.
“That's why we know that Northstar Ventures are the right fund managers to help us deliver the new £120m North East Fund. They have a diverse and extensive range of experience and understand what makes the region tick and where to seek out the best opportunities.
“Northstar have their eyes on global trends but are also deeply rooted in the local business and venture community and importantly, 'think global, act local’.”
Northstar Ventures is one of the leading early stage investors in the UK and to date has invested over £100m over the past 14 years in over 300 business throughout the North East.