Manchester-based venture capital firm Praetura Ventures has closed its latest investment round, bringing the total raised by its enterprise investment scheme (EIS) fund to £100m since its launch back in 2019.
Now the VC wants to invest approximately £15m in 10-15 tech and life science companies within the next six months. The funds will mostly be deployed in Praetura’s home in the North of England.
Praetura Ventures fund mainly invests in Northern early-stage startups and is one of the VCs identified in UKTN’s roundup of four British VC funds that are actively investing in the North of England.
“In that time, we have had the privilege of supporting some truly exceptional businesses and founders. Over the next 12 months, we plan to invest into even more EIS-qualifying businesses across multiple sectors, knowing the vast contribution they provide to the economy and our everyday lives,” said David Foreman, founder and managing director, Praetura Ventures.
The North has become a high-growth area for tech startups. In the last five years companies in the “Northern Triangle” – Manchester, Leeds and Sheffield – have raised £1.3bn in funding and is home to nearly 1,500 startups.
Praetura has a portfolio of 27 businesses with two thirds located in the North and has reviewed £1bn in investment opportunities this year.
Recent investments include £2m into business management platform Fluid.work for hiring, marketing and international expansion.
New hires for the investor include London restaurant founder Tania Rahman, who will join as an investment manager and will evaluate early investment opportunities.
Mahesh Santiapillai joins the VC as an investment executive, having previously worked as an associate at UBS and LGT Capital Partners.
Martin Kelly joins as client services manager, bringing experience from investment platform AJ Bell.