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Northstar Ventures launches new £15m fund to drive growth and prosperity in Sunderland

Northstar Ventures launches new £15m fund to drive growth and prosperity in Sunderland

Deborah Nixon Carr

Oct 10 2024

Northstar’s new Venture Sunderland Fund, which has been designed to accelerate the growth of start-ups and scale-ups in Sunderland, is set to play a key part in the city’s transformation, fostering innovation, creating high-quality jobs and driving long-term prosperity in Sunderland and the wider north. The fund will complement and leverage the £2bn+ regeneration programme that is already underway in the city and help to transform Sunderland into one of the leading innovation hubs in the North of England.

The Venture Sunderland Fund will build on Sunderland’s emerging strengths in industries such as advanced manufacturing, low carbon, the digital and creative industries, as well as in health and ageing, creating a new cluster of innovative and ambitious high-growth companies, based in Sunderland, but with the potential to scale globally.

Alasdair Greig, Director, Northstar Ventures says: “Venture capital is a crucial ingredient for driving growth and prosperity in Sunderland. It will help catalyse growth across the city’s start-up and scale-up landscape and generate the high-quality jobs needed to transform our economy, providing local people with new career paths, higher income potential and the chance to be part of innovative and dynamic global industries.”

Naomi Allen Seales, Investment Manager, Northstar Ventures added: “It has been wonderful to witness the redevelopment of Sunderland over the last few years. The Venture Sunderland Fund will build on this and support the development of the entrepreneurial ecosystem in the city, supporting talented founders to scale their businesses in Sunderland.”

Northstar Ventures has been operating in Sunderland and the wider North East for more than 20 years. The firm’s £150 million-plus investments into regional companies have helped to catalyse great job and wealth creation across the area.

Northstar’s investment track record includes a number of high value exits, which were added to earlier this year when Houghton-le-Spring construction sector management software firm Clixifix was bought by Norway’s SmartCraft ASA. The deal, which sees SmartCraft making its UK headquarters in the region, secured substantial new investment into Wearside.  The Venture Sunderland Fund has been designed to build on this success.

Further details about the Venture Sunderland Fund will be announced at the Sunderland Business Festival, 14th – 18th October.  Additional information on the types of companies Northstar is looking to back can be found at https://northstarventures.co.uk/venture-sunderland-fund/.

 

Notes To Editors

Press contacts – Northstar Ventures Limited

Deborah Nixon Carr

Marketing / Investment Support

M: 07754 800 749

[email protected]

 

Emma O’Rourke

Finance Director

M: 07715 366 434

[email protected]

 

About Northstar Ventures

Northstar Ventures is a long-established venture capital and social investment company based in the North East of England.

As the region’s leading early-stage investor, we have provided over £100m of funding into start-ups, early-stage businesses and high impact social enterprises.

Supporting entrepreneurs since 2004, we know how to identify strong, effective teams with innovative ideas that will drive high growth, scalable businesses, and sustainable charities. Our particular focus is on those organisations who provide solutions to societal and industry-wide issues on a regional, national and even global scale.

Our investment managers have a wealth of expertise supporting new and growing businesses. They bring commercial and operational knowledge to the table combining everything from PhDs, MBAs, international careers and finance to micro-business experience.

Northstar Ventures Limited is authorised and regulated by the Financial Conduct Authority. For more information see www.northstarventures.co.uk.

 

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