Northstar Ventures to plough £6m into North East start-ups
Newcastle and Darlington-based VC firm will also invest in companies willing to locate to the North East
Venture Capital (VC) firm Northstar Ventures is looking to invest £6m into North East-based businesses after securing extended funding from the Finance for Business North East Acclerator and Proof of Concept Funds.
The Newcastle and Darlington-based firm, which has been supporting local businesses for more than a decade, is also extending the offer to start-ups that are willing to relocate to the region.
In the past, Northstar has invested £150,000 in digital agency Orange Bus, which was recently acquired by Capita PLC and utility bill company One Utility Bill.
Ian Richards, director at Northstar Ventures, commented: “Whether you are a small team with ambitions to build disruptive tech solutions, or an established company that needs support to scale your operations, our team is able to provide both financial and business support.”
Mike Parker, co-founder of Orange Bus, said: “The financial support we received from Northstar came at an important time for Orange Bus, allowing us to scale our business model and expand rapidly. As we’ve grown we’ve significantly increased the size of our team, developed the services we offer and successfully won a raft of exciting international contracts.”