About NEL
NEL is an independent fund management business that currently
provides financial products to small and mid sized businesses based in
the North East of England.
Our Products include;
Venture Capital and unsecured mezzanine and loan capital.
Two separate divisions of NEL, Evolve
Finance and NEL Capital manage our investors
funds. For more information please read the Funds under management
section.
Our People
Barrie Hensby - Chief Executive
David Whitmell – Chief Operating Officer
Donna Hedley - Portfolio Analyst
Jane Heneghan - Corporate & HR Assistant
Jane Siddle - Investment Executive
Joanne Pratt - Senior Investment Executive
Jonathan Luke - Senior Portfolio Executive
Keith Charlton – Finance Director, Company Secretary and Compliance Officer
Lindsey Grieves - Portfolio Executive
Lorraine Hancill – Management Accountant
Nick Edgar - Investment Executive
Simon Johnson – Senior Investment Executive
Suzanne Boyd - Investment Administrator
History
Below are key events in NEL’s growth as a business.
1989
NEL is formed to provide unsecured loan funding to businesses in the
North East of England.
1993
NEL becomes regulated for the conduct of investment business and
successfully secures a management contract as the discretionary fund
manager for the Midland Enterprise Fund for the North East
(subsequently renamed the First HSBC Enterprise Fund for the North East
("HSBC1").
1998
HSBC1 is fully committed. NEL secures the management of a follow-on
Fund, The Second HSBC UK Enterprise Fund for the North East ("HSBC2").
Investors include HSBC UK plc, the European Investment Bank and local
pension Funds.
2000
NEL raises the North East Investment Fund (‘NEIF’)
and the
North East Seed Capital Fund (‘NESCF’). NEIF with
£6.675 million as mezzanine finance. Most of the capital was
provided by Northern Rock plc. NESCF with £3.2 million for
the
commercialisation of technology emanating from the five universities in
the North East. Principal investors are Northern Rock, 3i, the European
Investment Bank and the Universities.
2001
HSBC2 and NEIF are fully committed. NEL raises NEIF2, a £2.5m
interim follow-on Fund with the same investment criteria as NEIF. The
majority of capital was provided by Barclays Bank plc.
2002
NEL is appointed as discretionary fund manager of Capital North East
(‘CNE’) The Regional Venture Capital Fund for North
East
England. The fund raises £15 million and is the first of the
nine
in England to launch and begin investing.
2004
NEL raises and launches the North East Investment Fund 3, an
£18
million mezzanine debt fund managed by its newly created specialist
debt division, Evolve Finance. The majority of capital was provided by
Barclays Bank plc.
2006
NEL raises the £5m NEL Growth Fund, with support from NITR,
Barclays Bank and others. NEL also launches the North East Investment
Fund 3B, which extends the investment capability of Evolve Finance
through to the end of 2008. Barclays Bank were again a substantial
provider of capital to this fund.