Sunderland is on the cusp of a major transformation, driven by a blend of public investment and private enterprise. Northstar Ventures’ new £15 million Venture Sunderland Fund is set to accelerate this change, fostering innovation and economic growth in the city.
Sunderland, a city with a storied industrial past, is on the brink of a significant transformation. In 2024, the city stands at the threshold of a new era, fuelled by an ambitious and on-going regeneration programme that aims to revitalise its economy, infrastructure and social fabric.
At the heart of this transformation is Northstar Ventures’ latest initiative – the Venture Sunderland Fund. Designed to accelerate the growth of start-ups and scale-ups in Sunderland, the £15 million venture capital fund is poised to play a crucial role in the city’s transformation, fostering innovation, creating high quality jobs and driving long-term prosperity.
The decline of traditional industries left a void that has yet to be fully filled. Public and private investment in infrastructure has laid a strong groundwork for recovery with new roads, bridges and state-of-the-art buildings which have risen from the ashes of the city’s industrial past, symbolising the promise of a brighter future. A new venture capital fund will add the fuel to the engine to drive sustainable economic growth and generate wealth.
The true driver of economic prosperity lies in the businesses that operate within this infrastructure—businesses that can innovate, scale and compete on a global stage. This is where Northstar Ventures’ Venture Sunderland Fund comes into play, providing the crucial financial backing that allows new and existing companies to grow, thrive and contribute to the city’s economy.
Sunderland is uniquely positioned to capitalise on several emerging industries, making it an attractive location for venture capital investment. The city is already a leader in the electrification revolution, home to Nissan’s world-renowned car manufacturing plant, which is being transformed into a flagship electric vehicle (EV) hub under the ‘EV36Zero’ strategy.
Sunderland also hosts the UK’s only operational Gigafactory, with a second one under construction. These developments are not just local success stories – they are key components of the global shift towards sustainable energy and transportation. In addition to its leadership in electrification, Sunderland is also rapidly emerging as a hub for digital and creative industries. The city is home to Europe’s largest film studio, Crown Works – a £0.5 billion investment by Fulwell 73 and Sunderland City Council.
This ambitious project is set to put Sunderland on the map as a major player in the global film and television industry, attracting talent, investment and new opportunities to the region. The growth of the Esports cluster around Sunderland’s National Esports Performance Campus further underscores the city’s potential as a centre for digital innovation. Sunderland’s ambition to become the UK’s leading Smart City, coupled with its strong focus on health and ageing sectors, exemplified by institutions like the Sunderland Eye Infirmary and Sunderland University’s rapidly rising Medical School, highlights its diverse and growing economy.
The Venture Sunderland Fund is designed to leverage these strengths, providing the financial resources needed to support the city’s most promising start-ups and scale-ups. Northstar Ventures, with its deep roots in the North East and a proven track record of successful investments, is uniquely positioned to lead this effort.
The fund aims to create a new cluster of high-growth companies headquartered in Sunderland, but with the potential to scale globally. These companies will not only generate high-quality jobs, but also contribute to the city’s broader economic and social regeneration. Sunderland’s transformation is a testament to the power of public-private partnerships. Public investment has laid the foundation by creating a modern, connected city capable of supporting new industries and businesses. However, the long-term success of these efforts depends on the ability to attract and sustain private investment, particularly in the form of venture capital. The Venture Sunderland Fund represents a critical piece of this puzzle, bridging the gap between public infrastructure and private enterprise.
By providing start-ups and scale-ups with the capital they need to grow, the fund will help to create a more dynamic and resilient economy in Sunderland. This, in turn, will drive job creation, increase local incomes and reduce poverty, creating a virtuous cycle of growth and prosperity. The fund’s focus on high-impact, high-value businesses will also ensure that Sunderland remains competitive in the global economy, attracting further investment and talent to the city.
Naomi Allen Seales, Investment Manager, Northstar Ventures says, “The vital element to drive progress and prosperity in the area is venture capital.
“The Venture Sunderland Fund will benefit not just Sunderland but the whole of the North East region. It will boost the growth of start-up and scale-up businesses and so provide a broad range of opportunities which include high quality jobs that impact onto the local economy. This will open up diverse career options with potential for higher income roles in industries that not only have a regional impact but also a global impact.
“Sunderland is a hard-working city, built on innovative, original ideas backed up by the ability to make them a reality. We are keen to work with the city’s business community as it pushes Sunderland forward into a new era.”
Tom O’Neill, Investment Manager, Northstar Ventures says, “It has been incredible to watch the redevelopment of Sunderland over the last few years. The Venture Sunderland Fund will build on this and support the development of the early stage ecosystem in the city, as well as supporting talented founders to start and grow their businesses in Sunderland.“
For more information, visit www.northstarventures.co.uk
For initial enquiries contact Deborah Nixon Carr at [email protected]
