Loan and equity investment provider Mercia Fund Managers has opened its first Newcastle office.
The launch of the new base, located at the City Quadrant building on Waterloo Street, follows Mercia’s appointment as fund manager for the £27m North East Venture Fund.
From its Newcastle office, the company will invest in SMEs across Northumberland, Durham and Tyne and Wear.
Existing investments in the region include Newcastle VR firm Luminous Group and AI software sales business Refract.
Elsewhere, Mercia has expanded its North East team with the appointment of Jan Oosthuizen as investment manager.
Jan has eight years of experience in accountancy and finance, including in audit and advisory roles. He previously worked for professional services giant PwC.
Ian Wilson, head of Mercia’s North East investment team, said: “Mercia has a strong track record of supporting regional businesses with high growth potential and we are already active in the North East.
“However with the launch of the Venture Fund and the Newcastle office, we will be stepping up our operations in the region and continuing to build our team.”
He added: “We look forward to working with the North East Fund and other partners to support the next generation of emerging stars.”
The North East Venture Fund invests up to £1m in businesses with high growth potential. It is part of the £120m North East Fund, supported by The European Regional Development Fund.
Mercia’s Newcastle office will be its ninth UK location.
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