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Northern Gritstone and Parkwalk team up for new EIS fund – will it deliver the UK’s first trillion-euro startup?
- Northern Gritstone and Parkwalk have launched the Northern Universities Venture Fund, an EIS fund to support early-stage science and DeepTech spinouts from Northern English universities.
- The fund targets sectors like quantum computing, AI, engineering biology, and aims to commercialize innovation from the North of England.
- Managed by Parkwalk with €584 million in AUM, the fund is part of efforts to invest in UK university science and technology.
- Northern Gritstone, supporting startups from academic institutions since 2022, has invested in 37 companies in various sectors.
- They raised an additional €58.4 million this year, totaling committed capital to €423 million.
- Northern Gritstone's mission is to balance returns with societal impact, supporting job creation and regional development.
- Parkwalk Advisors, part of IP Group plc, is experienced in university-specific investment vehicles and manages funds for several UK universities.
- The collaboration aims to offer investors access to a pipeline of innovative spinouts.
- The fund leverages Northern Gritstone's university partnerships and aims to drive economic impact.
- High-net-worth individuals can now invest in early-stage university projects through this partnership.
- Creating opportunities for investors to support potential global companies emerging from Northern universities.
- The initiative seeks to encourage regional growth and benefit the UK economy.
- Both parties bring expertise in university commercialization and venture capital to the partnership.
- Lord Jim O’Neill sees the collaboration as a chance to support the next generation of global companies.
- The fund benefits from long-term agreements with partner universities, granting preferred investor access to spinout deals.
- Parkwalk will handle fund management, facilitating investment in early-stage university commercialization projects.
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