New charitable foundation to support social enterprises in the North East

Venture capital company Northstar Ventures has launched The Northstar Foundation to support entrepreneurship and social enterprises in the North East.

The new foundation has wide charitable goals, but a particular focus on initiatives that benefit excluded and deprived communities in the North East of England. It will make grants to individuals and organisations, and provide other finance, advocacy and support.

Newcastle-based Northstar Ventures has over £95m under management, and has invested in over 200 enterprises since 2004.

It manages the £9m North East Social Investment Fund, funded by Big Society Capital, Northern Rock Foundation, and Esmée Fairbairn Foundation.

Northstar Ventures director Alasdair Greig said: “As part of our commitment to supporting our community and the recent expansion of our fund management expertise into social investment, The Northstar Foundation has been set up to provide additional support for social investment in the North East.”

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