Funding for new companies

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A VENTURE capital company with £35million of Government funding to invest in private companies is urging North East businesses to come forward.

Northstar Ventures, which manages two of the funds on behalf of the Government’s £125million Finance for Business North-East super fund, is looking to invest in entrepreneurs with ideas and companies who want to grow.

Although more than 200 North-East companies have benefited, funds must be invested by 2014.

Experts from Northstar have money from the £15million Proof of Concept Fund and the £20million Accelerator Fund waiting to be invested in companies.

As the fund is public money, returns made will be reinvested in the region.

Fund managers believe there may be a wealth of companies and entrepreneurs in the region who have yet to come forward.

Venture capitalist funds are managed by professional investors and invest capital in business ventures for start-up or expansion in exchange for equity or a share of the company.

The money is invested in the interest of realising a return on the investment when the company becomes big enough to be sold or floated on the stock market.

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