Businesses to shape 160m fund
Fri, 28th November 2014

Businesses to shape £160m fund

By Matthew Ord, Digital Staff Writer

Businesses are being given the opportunity to shape the £160m JEREMIE2 venture capital fund.

A collaboration between the North East Local Enterprise Partnership (LEP) and Tees Valley Unlimited LEP, the fund will be investing from 2016 until 2020.

Now, all North East-based companies are being given the chance to help it target the new funds effectively.

Businesses must complete a survey to air their views, which includes questions regarding what type of business should be targeted, what sizes, sectors and locations of business should be targeted, and what types of funding are required most.

Estelle Blanks, who was most recently deputy director of the Newcastle Science City initiative, has been appointed as deputy project director of the fund.

She said: "The views and experiences of the business community are all important to us in putting together evidence for JEREMIE2 in the North East.

"The more responses we have, the more targeted we can be in structuring the new funds whilst taking into account funders' requirements. That will increase their impact on individual enterprises and on the region’s longer-term growth."

JEREMIE2 will expand the work of the original JEREMIE fund, which has been hailed as "England's most successful regional investment fund".

Launched in 2010, JEREMIE1 has invested nearly £110m to date in 650 North East companies and secured more than £120m in investment from the private sector.

Article by
Matthew Ord

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category North East  |  source Insider Media