Northern Gritstone hires Nottingham spinout chief as investment director

Andy Naylor Northern Gritstone Image credit: Northern Gritstone

Investment firm Northern Gritstone has appointed Andy Naylor, the former CEO of Nottingham Technology Ventures, as its newest investment director.

At Nottingham Technology Ventures, Naylor was in charge of the University of Nottingham’s spinout portfolio and investment funds.

“To attract someone with Andy’s stature and experience in developing early-stage businesses is another sign of Northern Gritstone’s ambition,” said Duncan Johnson, CEO of Northern Gritstone.

Naylor becomes the third investment director hire in six months at Northern Gritstone, alongside Gareth Llewellyn and Mark Wyatt. Northern Gritstone also hired Alison Maughan back in August as investment manager.

Previously, Naylor has also worked as a non-executive director for Cambridge-based early-stage biopharmaceutical company Exonate and as a licensing executive at the University of Nottingham.

Manchester-based Northern Gritstone was established in 2021 by the Universities of Leeds, Manchester and Sheffield to invest in North England spinouts.

Investments by the Northern-focused firm include sensor maker Phlux Technology, artificial intelligence startup Opteran and deep tech company Iceotope.

“I look forward to working with Andy as we build on our momentum from 2022 and invest in more ground-breaking university spin-outs in the north of England,” added Johnson.

Chaired by former Treasury minister and Goldman Sachs chief economist Lord O’Neill, Northern Gritstone in May secured £215m in investment.