Business investor on the lookout for ideas
The North East’s longeststanding business investor has recorded its busiest ever quarter as it continues to grow its portfolio.
NEL Fund Managers made 27 investments worth over £2.5m across the North East in the final three months of 2019.
The firm is responsible for investing the £18m North
East Growth Capital Fund and also manages the £9m North East Small Loan Fund.
Dr Yvonne Gale, chief executive at NEL Fund Managers , says: “The run-up to the end of any year provides a natural deadline towards which all parties involved in an investment can work, but last year saw especially high activity levels.
“It’s a huge credit to our investment team that we got so many deals done in such a short period.
“We’ve been seeing particularly high levels of interest from Durham-based businesses as well as from applicants in the education and health & fitness markets.”
She added: “While we have a strong flow of investment proposals coming in that will allow us to do this, we’re very much open to hearing more ideas from businesses that want to realise more of their potential.
“The impact of the investments we provide is clear to see in the performance of the firms we’ve backed.”
Jason Hobbs, chief executive at the North East Fund, added: “The North East Fund is keen to support local enterprises with their sales growth, new product development and expansion ambitions, and NEL is integral to us doing that.”
For more information about NEL’s investment criteria, go to www.nel.co.uk or call 0845 111 1850