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Northern Film and Media appoints NorthStar to manage GBP2.4m fund

NorthStar Equity Investors has been selected by Northern Film and Media and regional development agency One NorthEast to manage a GBP2.4m fund.

The Creative Fund will be used to invest in creative companies and the commercial content that they are developing and producing.

It will be open to both companies indigenous to the North East and those wishing to base production in the region.

The fund will formally launch in early 2010, but NorthStar is keen to start meeting interested entrepreneurs from the film, TV, interactive media, games and music sectors in the region straightaway.

It follows Northern Film and Media’s successful Content Fund which has so far invested GBP800,000 into production. This has already led to the success of Coastal Productions’ debut international movie Ways to Live Forever starring Greta Scacchi, Ben Chaplin, Emilia Fox and Phyllida Law.

Tom Harvey, chief executive officer of Northern Film & Media, says: “This is a first for the country. The Regional Screen Agencies develop the creative industries, they all have deep regional links and knowledge and a history of success developing the creative sector across the English regions. NorthStar is the perfect partner for NFM here in the North East and we are extremely pleased to be collaborating with them on this fund. NorthStar are highly experienced in the venture capital world and the combination of our creative industries experience and their financial expertise and networks makes this a powerful partnership. It is exactly the right commercial development approach for the creative industries, both here in the North East and nationally.”

NorthStar will raise money from the private sector alongside the Creative Fund on a deal by deal basis in order to support commercially viable SMEs and the content they develop and produce. It will back the best management teams in the film, TV, interactive media, games and music sectors.

Marion Bernard (pictured), chief executive officer at NorthStar, says: “We are delighted to have been chosen to manage the Creative Fund and to have the chance to work with NFM in the building of successful commercial creative companies in the region. NorthStar has market leading expertise in the funding of early stage businesses in the North East, having successfully invested in a number of creative companies with the North East Proof of Concept Fund and the North East Co Investment Fund.”

NFM is the screen agency for the North East of England and works to ensure that content is created and production is enabled in the North East to the benefit of regional talent and the regional economy.

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