Par Equity launches £100M fund to support UK tech startups in the north

Today we’re announcing the launch of a new fund – Par Equity Ventures I LP - a £100m investment vehicle to support some of the fastest growing tech companies in the north of the UK at the series A stage and beyond. 

With a first close of £67m, the fund will seek to back 12-15 tech companies providing enterprise solutions, with a primary focus on the fields of climate tech, health care and industrials. The fund will provide initial tickets of c. £4m which means that it’s capable of supporting larger series A rounds of £5m to £20m, the most critical juncture in the scale-up journey.

Managing partner, Paul Munn, “Accelerating innovation and talent in this part of the UK is an absolute priority for us and we believe that this fund can be a positive catalyst for the local tech ecosystem. Not only are we uniquely delivering capital to scaleups in the region, but we hope this fund will trigger a mindset shift to encourage and enable our very best and brightest companies to shine on the world stage.”

Andrew Noble, Partner, adds, “People often forget that the North of the UK is a big market in its own right. Worth around $1 trillion GDP, it would be the eighth largest economy in Europe but is still largely overlooked by investors. We are surrounded by incredible innovation in this part of the UK, and we must now turn these fledgling start-ups into global category leaders. We look forward to working with these companies to unlock those ambitions.”

Read more here: https://bit.ly/45BUIzs