The Finance for Business North East programme was established to provide debt and equity funding to SMEs based in the north east of England.
It is financed by the European Regional Development Fund (ERDF) and the European Investment Bank (EIB) under the European Commission's Joint European Resources for Micro to Medium Enterprises Initiative - it has otherwise known as the JEREMIE programme, and is managed by North East Finance.
During the investment phase, there were seven funds, each managed by an experienced fund manager with responsibility for making investment decisions.
at the close of the investment period (December 2016) it had:
These figures will continue to increase to the end of the realisation period in 2020.
North East Finance is seeking to appoint a fund management organisation to take over the management of the investment portfolio of NEF's Finance for Business North East Technology Fund from the current fund manager and, potentially, to manage other venture capital investments from within NEF's portfolio.Read More
NEF is the holding fund manager of the Finance for Business North East (FBNE) programme, a suite of venture capital and loan funds which invested £160m in SMEs based in the North East of England from 201-2017.Read More
Find out more about our seven funds to help businessRead More
Find out how North East Finance is helping fund growth in TeessideRead More