Jul 022017

Non-Executive Director for Venture Capital Holding Fund

Recruiter: North East Finance (Holdco) Limited
Location: Newcastle Upon Tyne, Tyne and Wear (GB)
Salary: £20,000 per annum + expenses
Posted: 23 Jun 2017
Closes: 25 Aug 2017
Position/Level: Board, Director
Responsibilities: Corporate Finance,Finance, Fund Management
Sector: Banking, Investment,Financial Services, Private Equity
Contract Type: Non-executive director
Language: English

Non-Executive Director for Venture Capital Holding Fund in North East England

North East Finance (NEF) is seeking to appoint a capable individual to join the board of the company as a Non-Executive Director.

NEF is the holding fund manager of the Finance for Business North East (FBNE) programme, a suite of venture capital and loan funds which invested £160m in SMEs based in the North East of England from 2010 to 2017. NEF is a private company which has been funded principally by the European Regional Development Fund, the European Investment Bank (EIB) and the UK government. NEF is an investor in, and oversees the activities of, seven sub-funds which are all now fully-invested and in their realisation phase.

The fund managers are independent, FCA authorised firms with fully discretionary mandates. NEF does not have any role in the investment or divestment decisions made by the fund managers but is responsible for monitoring their performance, managing the contracts and for reporting to funders and ensuring that the commitments NEF made to them are honoured. NEF’s board has ultimate responsibility for: portfolio management of c.£70m of in specie assets; oversight of NEF’s executives and the fund managers; addressing conflicts of interests resulting from any successor programmes and for corporate governance, financial reporting, audits and accountability generally.

The next few years remain critical to the overall success of the FBNE programme – with significant final loan repayments becoming due to the EIB and the imperative then to maximise the legacy of the programme, in terms both of the financial returns which can be reinvested in the North East and of the impact on businesses, entrepreneurs and employment in the region. NEF’s board is seeking to appoint a new Non-Executive Director who can help the company successfully achieve these objectives and who will assume a major role in the governance of the company as the terms of office of the current non-executive directors end during 2018. The individual selected will be a potential candidate for the position of Chairman within the director succession plan.

Among the characteristics and competencies required of the successful candidate are:

  • Experience at board level (as an executive or non-executive director) in a venture capital or private equity business and / or a track record in corporate finance, investment banking or broking (ideally on the sell side)
  • Strong networks with key players in the SME investment sector (venture capital and private equity investors; VCT, AIM and EIS market participants; banks)
  • A sound knowledge of venture capital / private equity fund structures
  • Intellect, integrity and drive, backed by excellent communication skills
  • An understanding of the importance of effective corporate governance
  • Excellent networking and stakeholder management skills
  • A commitment to act in accordance with the seven principles which should underpin the actions of all who serve the public in any way as defined by the Committee on Standards in Public Life

The closing date for applications is Friday 25th August 2017.

For further details and the application form which candidates must complete, please download the attached Information for Applicants and Application form file.

Supporting documents

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