Northumberland launches £20M evergreen fund to back local businesses

What's the deal? Northumberland County CouncilDealroom has a profile for this one. Try Dealroom → has launched the Business Northumberland Investment Fund (BNIF)Dealroom has a profile for this one. Try Dealroom →, a £20 million vehicle to support business growth across the county. It forms part of the wider Northumberland Growth FundDealroom has a profile for this one. Try Dealroom → and targets firms that might otherwise struggle to secure finance.

What's the endgame? The council says the BNIF aims to support job creation, innovation, and the attraction of further private sector investment. It is designed to back companies ranging from startups and scaleups to established firms looking to expand.

Why now? The council has opened the process to appoint an experienced, Financial Conduct Authority-authorised fund manager to run the BNIF. Tender details are available through the OPEN Tender Portal under reference NCC1819.

What they're saying: "The BNIF gives us the opportunity to back those ambitions with significant long-term investment, helping businesses create jobs, drive innovation and contribute to a stronger local economy," said Richard Wearmouth, the council's cabinet member for business, growth and regeneration.

He added that the fund will provide "a new source of patient and flexible capital," helping businesses overcome barriers to growth.

The signal: The BNIF is structured as an evergreen fund, meaning returns will be recycled into future opportunities rather than paid out. That model signals a bid for durable, self-sustaining local investment beyond the initial £20 million.