New Era Aquaculture, which develops and manufactures fish feed, has secured £300,000 of equity finance from two North of England-based funds.

New Era Aquaculture, which develops and manufactures fish feed, has secured £300,000 of equity finance from two North of England-based funds.

Enterprise Ventures contributed half the money from its Coalfields Enterprise Fund, a government-backed vehicle that invests in businesses in England’s former coalfields. The balance is from South Yorkshire Investment Fund, which is supported by European and UK government money.

The company will use the cash to develop export sales and expand its manufacturing facility near Doncaster, South Yorkshire. The plans include the installation of a live fish holding facility to assist with research and development.

New Era will also continue to design and install aquariums for the corporate and leisure markets.

Legal advisors deal in the transaction were Clare Mackintosh, a solicitor at Keeble Hawson, who acted for the investors, and Trevor Ironmonger, managing partner at Ironmonger Curtis, who acted for the company.