The CEO of regional business investor NEL Fund Managers has hailed regional firms for their “robust” growth plans after reaching an investment milestone.
Since becoming regulated for the conduct of investment business in 1993, NEL Fund Managers has managed 13 different funds and has made a total of 1,026 investments across the North East. The Newcastle based organisation took on responsibility in 2018 for investing the £18m North East Growth Capital Fund and £9m North East Small Loan Fund across the region.
It has now taken the total amount it has invested from the North East Fund Supported By The European Regional Development Fund in growing regional firms past the £20m mark, making a total of 243 investments from its two main funds across the region. More than £8m of the total has been invested over the last two years through the Government-backed Coronavirus Business Interruption Loan Scheme (CBILS) and Recovery Loan Scheme (RLS), and NEL is actively looking for further investment opportunities.
