Back: Rick McCordall, of Cottages in Northumberland, and Jeremy Middleton, of Middleton Enterprises. Front: Pradeep Jethi, of Resonance, Jonathan Gold, of Finance Tree, and Sally Goodsell, of the FSE Group

NEWS RELEASE: ISSUED ON BEHALF OF MIDDLETON ENTERPRISES

Middleton Enterprises owner Jeremy Middleton is calling on fellow business angels to support The Social Impact Co-Investment Fund as it launches in the North East.

Mr Middleton was one of the keynote speakers at the regional launch of the fund, which is aiming to enhance the supply of finance to the social enterprise sector.

The national Fund, managed by the FSE Group, provides loans of between £25,000 and £100,000 to social enterprises on a match-funding basis alongside investment from private sector sources, such as angel investors.

The fund will encourage the active participation of the business angel investor, who as well as money, will bring skills, experience, contacts and time commitment to the business.

The North East launch took place at BALTIC, Gateshead, with Jeremy Middleton and Sally Goodsell, Chief Executive of the FSE Group, as keynote speakers.

Guests invited to the launched comprised social entrepreneurs, advisors and investors from the region.

Jeremy Middleton said: “The setting up of this fund is to be commended. It will help the social enterprise sector expand and make a bigger impact on the economy as well as encouraging social philanthropy.

“Social enterprises and ventures that have the ability to make an adequate return for an investor are not mutually exclusive and I would encourage investors to support this initiative.

“Social enterprises may experience difficulties in obtaining finance from banks and other traditional financial institutions. This fund will enable them to access capital that will allow them to make a bigger positive impression on their communities and the arenas in which they work.”

Sally Goodsell said: “We are delighted to launch the Social Impact Co-investment Fund in the North East.

“We believe many business angels are keen to diversify their portfolios of investments and that, with the right structures, the social enterprise market can benefit from this source of funding and the skills, experience and expertise that are available from a private investor.”

Finance Tree is a key North East regional partner working with the FSE Group to help companies in the North East of England access the new Social Impact Co-Investment Fund.

Matched funding, which can be in the form of equity or loan investment, from private sector sources must be provided, of a sum at least equal to the level of the loan from the Fund.

Where the Fund considers the social impact and commercial viability to be strong, it will seek to work, via partners, to assist the applicant in identifying and securing the required angel investment.

Nationally, the Fund is managed by the FSE Group, with Resonance as lead partner and supported by NESTA and PANAPHUR.

ENDS

CONTACT: Helen Logan on 01325 363436

Notes to Editors:
Middleton Enterprises Ltd is a private investment company that has made a substantial contribution to the North East’s economy by investing in and providing business advice to entrepreneurial businesses.
During recent years, it has supported seven North East businesses, generally from start-up, usually taking a minority stake and offering strategic advice to support growth.

About FSE Group
The FSE Group currently operates funds in the South East and East of England Regions. Regional funds under management provide finance options for SMEs at different stages including proof of concept/commercialisation activities, seed funding, expansion/growth funding, developments in sustainable practices, products and services, and more. Furthermore we manage national funds with EPSRC, NESTA and PERA as well as the Community Generation Fund (currently in fundraising).
With around 400 business relationships in our current portfolio, FSE offers a broad industry expertise across all sectors and stage of development. We have over £30m of funds under management and are FSA authorised.








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Back: Rick McCordall, of Cottages in Northumberland, and Jeremy Middleton, of Middleton Enterprises. Front: Pradeep Jethi, of Resonance, Jonathan Gold, of Finance Tree, and Sally Goodsell, of the FSE Group
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