Finance Durham is a £20m investment fund from Durham County Council and managed by Business Durham and administered by Maven Capital Partners which will help businesses in County Durham grow creating thousands of jobs.
The fund will make financial investments in local businesses based in the county supporting up to 70 companies in the county in its first ten years with investments ranging from £10,000 to hundreds of thousands of pounds.
Funding will range between £150,000 to £800,000, with ten per cent of the fund being smaller investments, between £10,000 and £40,000, for incubation businesses. Equity, loan or a mix is available with larger aggregate sums through follow-on investment.
Businesses need to be based in County Durham or be relocating to the region when the investment is made.