NE social investment fund appoints manager
An investment manager at Northstar Ventures has been chosen to run a new North East enterprise fund designed to support the development and expansion of voluntary and community organisations and social enterprises in the region.
Peter Gilson has been appointed to manage the £9m North East Social Investment Fund on behalf of the Newcastle-based venture capitalist Northstar.
The fund will invest amounts varying from £100,000 to £1m depending on the individual organisation's needs.
Gilson, who has spent the latter part of his 40 year financial sector career working with voluntary, charitable and not for profit organisations, is inviting applications from the region's social enterprises.
"I really want to hear from organisations which have a strong passion to improve their social impact in areas such as homelessness, poverty, debt, health and social care, unemployment or the regeneration of deprived communities," he said.
"One of the greatest obstacles for any business is accessing the investment it needs to consolidate and expand, and that obstacle is even greater for charities and not for profit companies.
"The advantage of a repayable investment from the North East Social Investment Fund is that it can be used wherever it’s most needed to develop the organisation. That may be the purchase of new premises, covering operational costs, strengthening working capital, or a combination of those."