Rivers Capital Partners, managers of the Finance for Business North East Angel Fund has had its most successful operating year since its inception five years ago. Combating continued economic uncertainty, the Fund's flexible qualities ensured that demand for investment finance thrived throughout the year.
The finance has empowered 66 of the most innovative North East businesses to achieve their growth ambitions, with the vast majority supported with follow-on investments through the Fund's 124 transactions.
The Angel Fund's portfolio has contributed year on year to the growth of the economy, creating over £70m worth of turnover in the North East. With a strong commitment to stimulating new business and developing the North East's economy, the Fund's portfolio has successfully created and safeguarded over 600 jobs in the region.
With its capacity to act as an Angel co-investment Fund, matching investments from the Fund's facility, the Angel Fund has worked with over 30 private investors. Rivers Capital has actively forged strong connections with key business Angels and syndicates across the region, enabling the Fund's portfolio to generate an enormous £9.3m of additional co-investment to date.
Reflecting on this prosperous year the Fund has achieved many major milestones, successfully exiting DPE Automotive in September after the Angel Investee was snapped up by a global supply chain specialist Arlington Industries.
Technology innovators, Realsafe Technologies, continue their rapid expansion plans after securing a seven-figure sum of new investment this year. Working together since 2012, the Fund has supported Realsafe Technologies in a remarkable 4 funding rounds seeing their potential from the very start.
The Fund has also made a substantial impact across Tees Valley's fast-growing digital creative industry. With Robo Pixel Games, Orca Mobile and Hexdragonal Games receiving investment this year alone operations from the Rivers Capital Teesside office has never been busier. With so many innovative businesses supported R&D levered by the Fund's portfolio increased by £1m last quarter alone.
Dr Michael Dickens, Fund Manager at Rivers Capital Partners, commented, "The non-sector specific nature of the Fund means the investee companies truly represent the North East as a UK and world leader in engineering, automotive supply chain, university spin outs, and digital creative, mobile app and computer game sectors.
"The Angel Fund has now contributed £100m to the North East economy over the last 5 years providing what we at Rivers Capital believes is a positive impact to the regional economy in addition to supporting innovate high growth companies and jobs in the area."