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Back to Northern Powerhouse Investment Fund News – Issue 3

Q&A: Meet the Fund Manager

Name: Doug Heseltine
Company: Business Enterprise Fund
Job Title: Investment Manager
NPIF area: Yorkshire, Humber and Tees Valley

Describe a typical day as a fund manager.

First of all, I open up my emails to see how my clients are progressing with their ongoing applications. I spend a lot of time catching up with clients – it’s important to understand their business and position when making a decision. I also frequently meet intermediaries such as banks, who we work with closely.

What is it like working with SMEs across the North?

It’s great fun working with small businesses. I get to work with companies across all sectors – and there are a range of really interesting ideas out there! For me, small businesses represent the real Northern economy, there’s bucket loads of ambition and pride within small businesses, and they make a real economic impact.

What characteristics do you look for in a deal?

I’m excited about growth and potential in the North – I’ve worked on small loans for start-up businesses, to larger secured deals for established companies, and it’s the same determination that can be found in both. Alongside this I always look for proven commercial viability and room for business growth.

Which sectors should we keep an eye on in the North?

I’m fascinated by emerging tech in the North, where Leeds has become a hub. I think there will be a rise of innovators who are ready to take their product to market over the coming years.

Proudest career achievement to date.

It’s still early days in my career! I graduated in 2016 and went straight into Business Enterprise Fund. Having my first loan approved was a proud moment, as well as moving through the business from the Start Up team to the wider investment team.

What do you do in your spare time?

I like to play rugby and am heading to Australia to represent Scotland in the Rugby 9s at the Commonwealth Games. You’ll know how well we got on by the time you read this!

The Northern Powerhouse Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.

Editors Notes