A Tyneside animation studio is set to expand after securing a £150,000 investment.
Newcastle based Arcus Studios has sealed the six-figure sum from the North of Tyne Culture and Creative Investment Programme, to help it boost work with clients which already include the likes of BBC, E4 and the McMillan Trust. The company says it will use the capital injection to aid cashflow stability, staff team expansion, and value addition through enhanced financial governance.
The deal marks the latest investment programme, a partnership between Creative UK and the North of Tyne Combined Authority, which offers financial and business support to those working in the cultural and creative industries in North Tyneside, Northumberland and Newcastle.
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Michael Gandham , co-director and creative producer of Arcus Studios Ltd said: “We’re really excited about the opportunity that this loan offers for Arcus Studios to reach its potential. It will enable us to hone our sales and marketing skills and employ the right talent to allow us to expand and diversify our offer and well as ease capacity issues within the core team.
“Creative UK have been a joy to work with and they relayed the procedures and applications in a non-daunting way that made the whole process so much easier. I would encourage any creative businesses in the region looking to address capacity issues or skills gaps, who just wish to expand their offer, to apply.”
Rahul Misra, investment manager, North of Tyne, Creative UK, said: “We are delighted to invest into Arcus Studios through our North of Tyne Culture and Creative Investment Programme. Arcus have shown the tenacity and perseverance that it takes to run a truly creative business. They have been on an upward trajectory since navigating the challenges of the pandemic, and through our investment, we look forward to supporting the next phase of their business journey.”
The North of Tyne Culture and Creative Investment Programme is investing over £2m on behalf of the North of Tyne Combined Authority through loan and equity financing, providing loans of between £50,000 and £150,000 and equity finance in the range of £50,000 to £100,000 per investment. The programme offers long-term finance for commercially viable, growth-minded businesses that are innovative, operate in the creative and cultural sector, and can deliver meaningful impact in the region.
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