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VC merger creates PXN Group – a €783 million investment powerhouse for the north of the UK
- Edinburgh-based Par Equity and Manchester-based Praetura Ventures are merging to create PXN Group, a new venture capital and investment firm with over €783 million in assets under management.
- PXN Group will be the fastest-growing venture and investment firm outside of London, Oxford, and Cambridge.
- Dave Foreman, Founder of Praetura Ventures, will be the CEO of PXN Group, emphasizing a platform built for impact in regional areas.
- Par Equity, established in 2008, focuses on early-stage tech companies in Scotland, Northern Ireland, and Northern England with successful exits like Current Health and Symphonic Software.
- Praetura Ventures, founded in 2019, supports high-growth startups and manages institutional funds with tax-efficient products and services.
- The merger between Par Equity and Praetura Ventures aims to offer greater investment potential in underserved regions and a broader range of opportunities for various investors.
- PXN Group plans to provide equity investments from €233k to €9.3 million across different sectors and growth stages, aiming to support founders as they scale.
- The new entity will help financial advisers expand their investment products and continue managing existing funds and mandates with no significant changes.
- PXN Group, operating in Manchester, Edinburgh, Leeds, and London, aims to back ambitious founders and create category-leading businesses in the North of the UK.
- The firm seeks to close the regional funding gap in the UK and foster high-growth success stories in the North over the next year.
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