Chi Onwurah – 2016 Parliamentary Question to the Department for Communities and Local Government

The below Parliamentary question was asked by Chi Onwurah on 2016-02-10.

To ask the Secretary of State for Communities and Local Government, pursuant to the Answer of 5 February 2016 to Question 26044, which three of the five funds Northstar Ventures manages are closed to new investments; and when the decision was taken that Northstar Ventures should exit from remaining deals.

James Wharton

The three Northstar Venture Funds that are closed to new investments are the Proof of Concept Fund, Co Investment Fund and North East Creative Content Fund.

Each Fund was designed with an investment phase and closure/end date, specified in the fund management agreements signed at the outset.

No decision has been made to exit Northstar Ventures from teh remaining deals.