NorthEdge closes second fund at £300m

NorthEdge Capital’s Fund II was raised in four months and brings total funds under management to over half a billion pounds raised in the last four years.

NorthEdge’s maiden fund, which closed in March 2013 raising £225m, has invested over £180m in 13 Northern-based businesses operating in a range of industry sectors, employing over 3,000 people.

The majority of these businesses were acquired from corporates and private investors and were mostly management led deals, buy-outs and some development capital deals. The average equity investment into each deal has been around £14m.

Grant Berry, managing partner of NorthEdge, said: “We are delighted to have reached the hard cap of £300m in such a short timeframe and that our existing investors continue to show great confidence in supporting the NorthEdge team and offering.

“We are also delighted to welcome four new high quality institutional investors. The North of England is now firmly on the map and continues to offer some great investment opportunities from a range of high growth businesses who are looking to broaden their national and global reach.

“We remain passionate about targeting dedicated management teams who want capital to maximise the potential in their businesses. In return we bring a positive, creative and straight-talking approach. Crucially, NorthEdge also offers local decision-making. The North is our home and where our network is, and this is where the investment decisions are taken by the partners.”

NorthEdge, which is headquartered in Manchester and has an office in Leeds, has invested in five businesses in the Yorkshire and North East region over the last few years including Help-Link, Jigsaw24 and Sumo Digital.