Northstar Ventures has invested more than £95 million into SMEs and social enterprises across the North East of England since 2010.
The investment has attracted over £180m of additional investment from Northstar’s network of national and international angel, corporate and institutional co-investors, amounting to a combined £275m in total investment into the region.
It says that more than 2,000 jobs have been created by Northstar-backed companies.
“We are delighted to support the local economy with critical funding for growth,” said Alasdair Greig, Northstar director.
“Our portfolio companies are delivering world-beating technology on our doorstep, including Advanced Electric Machines producing motors for the electric cars of the future, Low Carbon Materials recycling plastics into building materials and AMLo Biosciences providing early cancer diagnostics.
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“The North East is now a focus on the global map. It is in the top 200 tech ecosystems in the world, with world-class opportunities in areas such as CleanTech and life sciences, over £1 billion in investment opportunities coming out of its world renowned universities and is increasingly appealing to founders priced out of the South of England and looking to enjoy the quality of life and sector strengths that the region has to offer.”
Ian Richards, Northstar director, added: “Impact at scale is a core tenet of our approach. Later this year we will release our first ESG and Impact Report, which will not only highlight the positive societal and environmental impact of our portfolio companies, but also the increasing focus we are putting on such crucial factors as carbon impact, diversity and inclusion, and governance standards in our investment decisions.”
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