One of the UK’s biggest Venture Capital funds launches in Yorkshire

A new £90m venture-capital fund, which will help small and medium-sized enterprises in Yorkshire to start up and grow, can offer seedcorn funding, small loans and equity-linked finance worth between £15,000 and £2m.

Why is this important?

• The fund will help businesses fill gaps in funding where conventional sources of finance (such as bank loans) are insufficient or unavailable.
• The funds will attract global entrepreneurs to invest in Yorkshire, from where they can get a foot-hold in the UK market. Such inward investment is vital to our region’s economy.
• The find will help to create 4,000 jobs and establish 129 businesses.

What’s in the fund?

The fund will be made up of three elements:

• Seedcorn funding of between £15,000 and £780,000
• A small loans fund for awards of £15,000 to £150,000
• Equity-linked finance of between £100,000 and £2m.

How are the funds to be used?

The goal is to finance ambitious entrepreneurs and businesses who can demonstrate their ability to successfully grow their businesses through development or acquisition.

Who is eligible to apply?

Businesses can be anything from start-ups to more established businesses. They must be located in, or planning to relocate to, the Yorkshire & Humber region.

Where is the money coming from?

Around half of the cash for the fund, which will run for 4 years, will be provided by Yorkshire Forward, with the remainder coming from the European Regional Development Fund and the European Investment Bank.

Want to know more?

Visit Finance Yorkshire or call 0845 649 0000.