Member Article

Newcastle's Watson Burton advises on £2.5 million worth of investments for Northstar Ventures

Newcastle-based law firm Watson Burton has advised on a record number of investments this year for regional venture capital company Northstar Ventures.

Northstar Ventures instructed Watson Burton’s corporate team to act on £2.5 million worth of investments into 21 north east SMEs during 2014.

Watson Burton associate Paul Wigham said that the figures show a promising increase in deal flow in the region, as numbers have almost doubled since 2012.

One of the 21 companies to receive funding was SoPost, founded by serial entrepreneur Jonathan Grubin from Gosforth.

Northstar Ventures invested £150k from its Proof of Concept fund into the company, which allows customers to send physical items from major consumer brands such as Britvic or Liz Earle Beauty Co, to friends over social media.

Paul said: “The work that we have been instructed to carry out for Northstar Ventures this year shows a continued growth in investments into start-up and small businesses in our region.

“In particular, the likes of the accelerator programme, Ignite, has helped to boost the numbers of investments, which has had a great impact on the region.

“It is very positive to see so many exciting young entrepreneurs and companies from across the world choosing the North East as the location to form their business.”

Ian Richards, director at Northstar Ventures, said: “2014 has been a successful year for Northstar Ventures. We have invested in a range of innovative and forward-thinking companies, which look set to have a bright and successful future.

“We are looking forward to working with new and exciting companies in 2015.”

The Finance for Business North East Proof of Concept and Accelerator Funds are backed by the European Regional Development Fund and the European Investment Bank.

This was posted in Bdaily's Members' News section by Ellen Forster .