North East Access to Finance; has been set up as part of the JEREMIE initiative. It exists to monitor access to finance in the region, as well as initiate training and mentoring programmes for SME’s. It is the parent company of North East Finance Ltd, which has been set up to manage the 125 million pound JEREMIE programme. The company intends to create three experimental funds within the next three years to complement the existing capability, and hopes to draw in investment from within as well as from outside the region. One of its main tasks will be to energise and build on Business Angel capacity in the region. It has been tasked with responsibility for stakeholder engagement, and most important of all has been charged with safeguarding and investing the legacy monies from all existing fund management activities, and all future funds. This should enable the JEREMIE programme to be re-created every five years as funds become available for re-investment.
The chairman of the company board is Hugh Morgan Williams, former chairman of the North East Regional Investment Fund and is being ably assisted by Geoff Hodgson current chairman of the Tourism board, Graham Thrower formerly of CitiGroup and a One North East board member and Director of the North East based music business alt.vinyl, and Mark Chidley, a senior banking partner from the law firm DLA Piper in Leeds.
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