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Experienced investment manager chosen to run new North East fund

One of the North East’s most experienced investment managers has been chosen to run a new enterprise fund.

Peter Gilson, investment manager at Northstar Ventures, has been appointed to manage the £9m North East Social Investment Fund on behalf of the Newcastle-based venture capitalist.

The fund, which is open now, has been set up to support the development and expansion of voluntary and community organisations and social enterprises and to improve their social impact.

Now, Peter, who has spent the latter part of his 40 year financial sector career working with voluntary, charitable and not for profit organisations, is inviting applications from the region’s social enterprises.

The fund will invest amounts varying from £100k to £1m according to the individual organisation’s needs, to normally be repaid within five and 10 years, with no penalties for early repayment.

Peter said: “I really want to hear from organisations, which have a strong passion to improve their social impact in areas such as homelessness, poverty, debt, health and social care, unemployment or the regeneration of deprived communities.

“We are really looking for organisations that benefit the disadvantaged and, ideally, have a strong management team with the ability to develop the organisation.”

“One of the greatest obstacles for any business is accessing the investment it needs to consolidate and expand and that obstacle is even greater for charities and not for profit companies.

“The advantage of a repayable investment from the North East Social Investment Fund is that it can be used wherever it’s most needed to develop the organisation.

“That may be the purchase of new premises, covering operational costs, strengthening working capital, or a combination of those.”

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