Application
Terms & Conditions

The POC Fund investment is in the form of a convertible loan. Full terms and conditions are disclosed to investees upon successful approval of the application. Points to note are:

  • The loan interest rate is UK Reference Rate plus 400 basis points. The European Commission reviews the Reference Rate on a regular basis.
  • Interest accrues from the date of the loan.
  • Repayment schedule is agreed with the investee. Flexibility is offered as to the period and size of repayments.
  • The POC Fund has the discretion to convert the loan to equity. The size of the stake taken in the investee business will depend on the circumstances triggering conversion. The POC Fund does not seek special voting rights or board representation.
  • A management fee equal to 1.5% of the POC Fund loan value (plus applicable VAT) is payable to NorthStar Equity Investors before the POC Fund loan will be transferred to successful applicants. This fee cannot come out of the POC budget - it must be paid from the applicant's own funds.

Download the Proof of Concept Application form.

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