DSW Ventures and NorthInvest partner to support Northern Powerhouse region
DSW Ventures and NorthInvest have partnered to support early-stage companies in the Northern Powerhouse region.
The collaboration will see the two organisations working closely together to provide quicker access for NorthInvest companies to venture capital funding from DSW Ventures.
DSW co-founder David Smith says, “With the economy feeling the impact of the pandemic, it is more important than ever that funders work together to create a supportive start-up ecosystem.
“We already have a close alignment with Northinvest and a history of productive working. This agreement will formalise the relationship and increase our joint impact.
“As the appetite of our investors remains undiminished by the Covid-19 crisis, it will also provide access to an even wider range of high-quality investment opportunities.”
NorthInvest founding Board Director Helen Oldham says, “There is no lack of ambitious entrepreneurs in the North, but as a region we need to find ways to nurture them from the pre-seed stage and provide access to funding opportunities to back innovative ideas.
“This partnership with DSW Ventures will increase access to larger sums of funding for our start-up community with a view to future funding rounds.
“It is an example of how VCs and angels can work together to give start-ups a clear roadmap to growth.”
DSW Ventures and NorthInvest can both deploy additional funding to support investments. NorthInvest from Innovate UK’s Regional Angel Investment Accelerator (RAIA) with the Innovation SuperNetwork, and DSW Ventures from its £10m fund from the British Business Bank’s Regional Angel Programme.