International law firm Eversheds will advise One NorthEast on the creation of a new super fund for the north-east of England.
International law firm Eversheds will advise One NorthEast on the creation of a new super fund for the north-east of England.
Eversheds won a competitive pitch for the work that will see the creation of a GBP125m fund to support the development of North East businesses.
One NorthEast is setting up a GBP125m fund under the Joint European Resources for Micro to Medium Enterprises Initiative framework to support a mix of venture capital and loan funds.
Eversheds will advise on the structuring of the funds which will see joint funding from One NorthEast, the European Regional Development Fund and the European Investment Bank which is designed to assist the growth and development of businesses in the North East.
The Eversheds cross-office team is led by financial services Partner Ronald Paterson, partner Ian Gilthorpe and corporate senior associate Lee Williamson.
Paterson says: ‘This is the next generation of funding for the SME market. The creation of this fund will ensure North East businesses with the support they need to develop and compete in the global marketplace.’
