VCID: 585846
Profile
Corporate information
Registration country
Fund terms
The North East Development Capital Fund is now closed to new applicants. It provided investment of up to £2m on terms tailored to facilitate the ambitious growth plans of established businesses with strong management teams. Between April 2018 and April 2024, the Development Capital Fund invested over £30m in 30 companies from across the North East. The finance provided has helped these companies to create more than 450 new jobs so far. More new jobs will be created as the companies continue to grow. The Development Capital Fund is managed by Maven Capital Partners, which continues to work with the portfolio of companies to help them achieve their growth ambitions. Maven can provide financial support to new applicants from other funds which it manages – please see the Maven website for details. The North East Fund can offer loan or equity investment to companies from the funds which remain open to new applicants: the Growth Capital Fund the Venture Fund or the Innovation Fund.
Investments
Selected investments
| Company | Country | Date | Notes | ||
|---|---|---|---|---|---|
|
Pockit Ltd Digital account provider offering pre-paid spending cards and current accounts. |
United Kingdom | 3 Aug 2023 | N/A Initial investment. Round participant. Active |
|
|
Avid Technology Group Ltd |
United Kingdom | 6 Mar 2019 | Venture Round participant. Active |