SMEs are to be helped by the launch of EverQuest Capital Partners, specialising in industries such as healthcare, semiconductors, renewable energy, and automotive.

In partnership with CPI - which has centres at the Wilton Centre, Darlington, Newcastle, NETPark and Newton Aycliffe - the fund provides financial backing and access to world-class facilities.

EverQuest will offer investors access to off-market opportunities and connect high-growth potential companies with CPI’s technical expertise, including access to expert guidance across multiple disciplines.

Frank Millar, CEO at CPI, said: “We are excited to partner with EverQuest Capital Partners in launching this unique fund, supporting their commitment to driving investment in deep-tech businesses, enabling advanced manufacturing technologies to become market-ready solutions.

“Advanced manufacturing is proven not only to change the way we design and manufacture, making UK businesses more competitive, it can also provide solutions to industrial challenges by decarbonising industry and reducing dependence on global supply chains

“We cannot wait to get started and provide businesses with some of the best technical expertise and innovation know-how in the UK and indeed the world.”

Stephane Mery, Partner at EverQuest Capital Partners, said: “Today is a hugely exciting day as we launch EverQuest Capital Partners, the first fund to focus on Deep MakeTech. Deep MakeTech is the field where advanced processes, designs and materials converge to disrupt existing markets by transforming the way things are developed and made. This is an exciting market, and many disruptive firms have come from this field in recent years, including Tesla, AMSL and Moderna.

“We want to help companies with bright ideas realise their potential and open doors for them that will accelerate those products and processes to market.

“We are also announcing today a unique strategic partnership with CPI. This means we aren’t just bringing financial benefit; we’re also able to give companies access to some of the best technical people in the country as well as state-of-the-art equipment to test and hone their ideas.”