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Finance for Business Middlesbrough presentation
 

Finance for Business Middlesbrough presentation

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    Finance for Business Middlesbrough presentation Finance for Business Middlesbrough presentation Presentation Transcript

    • 2010 Middlesbrough Institute of Modern Art 22 nd June 2010
    • A New Identity
      • You might have picked up on the press coverage for the NE JEREMIE venture capital fund…..this will now be known as…..
      Finance for Business North East
    • Finance for Business North East Key Features
      • £125m fund (£62.50m EIB; £62.50m ERDF / ONE)
      • One North East / ERDF covering fund management costs
      • Private Sector model
      • 2 Company Structure:
        • Holding Fund Company
        • Legacy Fund Company
      • Fund of Funds:
        • Expected to be 7 Funds
        • Continuum of Finance
        • Flexibility
    • Objectives
      • Investment in circa 850 SMEs
      • 5,000+ jobs
      • Generate significant co-investment
      • Wider impact in marketplace
      • £100m Legacy Fund
      • Relationship with European Investment Bank
      • Financial and economic development returns
    • Finance for Business North East - What’s New?
      • Scale & ambition - £125m of capital over five years
      • Holistic and coherent response to equity gap for high growth businesses in the region
      • Deliberately introducing real choice for businesses seeking venture capital in the Region
      • Prospect of significant legacy returns to support future VC provision in region over very long term
    • Finance for Business North East - What’s New?
      • First of its kind in the English regions
      • Engagement of major multinational partners:-
        • European Investment Bank – Triple A* rated institution
        • EIF – largest investor in early stage VC in EU
      • High calibre Investment Advisory Board (including 2 x former chairs of British Venture Capital Association)
      • Step-change in regional fund management capacity
      • Existing providers (North Star Equity Investors & NEL)
      • New entrants (IP Group, FW Capital & Rivers Capital Partners)
    • What Finance for Business North East is not!
      • These are investment funds not grant schemes – the managers are looking for a capital return on their investment
      • They are not suitable for all businesses – talk to your accountant, lawyer or to Business Link (BENE) if you need advice
      • The evaluation and due diligence process will be comprehensive and thorough so things won’t happen overnight
      • The funds are there to support long-term future growth - the money cannot be used to rescue difficult situations
      • The eligibility rules can appear complex but generally exclude very few small businesses – if in doubt talk to the fund managers!
    • What does this mean to you?
      • Competition and choice on your doorstep
      • The most dynamic early-stage VC market outside London
      • Access to specialist investors with expertise in all sectors and development phases
      • New channels to global investors and capital markets
      • Availability of VC for the right opportunities through to 2015
      • Exciting opportunities for business angels and other co-investors
    • Finance for Business North East Funds
    • The Funds
      • North East Technology Fund
      • £25m fund
      • Focussed on technology
      • Investing up to £1.25m – mainly equity
      • Managed by IP Group
      • North East Proof of Concept Fund
      • £15m fund
      • Primarily technology
      • Very early-stage start-ups and projects – investing £20-150k
      • Managed by Northstar Ventures
    • The Funds
      • North East Accelerator Fund
      • £20m fund - all eligible business sectors
      • Early-stage businesses with high growth potential
      • Typical investment range £200-750k
      • Managed by Northstar Ventures
      • North East Growth Fund
      • £20m fund – all eligible business sectors
      • Established businesses requiring development capital
      • Typical investment £150-200k – mezzanine & equity
      • Managed by NEL Fund Managers
    • The Funds
      • North East Growth Plus Fund
      • £20m fund – all eligible business sectors
      • Established businesses requiring larger sums of development capital
      • Typically investing £500k – maximum £1.25m
      • Managed by FW Capital
      • North East Angel Fund
      • £7.5m fund – all eligible sectors
      • Start-ups and early-stage businesses
      • Focus on working with business angels
      • Typically £50-150k
      • Managed by Rivers Capital Partners
    • Managed by IP Group £25m fund Focussed on technology Managed by Rivers Capital Partners £7.5 fund – all eligible sectors Start-ups and early stage businesses Managed by Northstar Ventures £15m fund – primarily technology Very early-stage start-ups NEL Fund Managers £20m fund - all eligible business sectors Established businesses requiring development capital Managed by FW Capital £20m fund – all eligible business sectors Start-ups and early stage businesses Managed by Northstar Ventures £20m fund – all eligible business sectors Early stage business with high growth potential