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The PXN Group investment center operates at the regional level
Par Equity, based in Edinburgh, and Praetura Ventures, based in Manchester, have established the PXN Group investment center. The firm will manage assets worth over €780 million.
The PXN Group is expected to become the fastest-growing investment company outside of the country’s key business centers. The “Golden Triangle” — London, Cambridge, and Oxford — stands out for its strong venture capital market.
Dave Forman, the founder of Praetura Ventures, has been appointed CEO of PXN. According to Forman, the merger of the two businesses marks a new stage in the development of the UK investment sector. PXN combines the strengths of two complementary companies. The investment center focuses on achieving long-term results. The goal is to become a leader in the regional venture capital sector.
The PXN Group will provide a reliable foundation for developing projects in regions far from the business center. The merged company’s substantial capital will support promising startups. Additionally, PXN is open to forming partnerships with businesspeople, investors, and financial advisors.
The investment center is of strategic importance to the region. Currently, 80% of venture capital in the country resides in London and the southeast. Consequently, the north of the UK remains neglected. PXN offers an effective venture program to assist startups at every stage of development. The company offers equity capital ranging from €233,000 to €9.3 million.
Overview of partners’ activities
Par Equity has been operating in the market since 2008. Its success is due to its well-thought-out structure and effective strategy:
- the company is represented by a network of business angels;
- managed funds support projects in the early stages of development;
- the firm works with representatives of the technology sector and helps them enter the market;
- it finances startups from Scotland, Northern Ireland, and Northern England.
Par Equity’s portfolio includes several successful launches, such as Current Health and Symphonic Software. Par Equity manages the Enterprise Investment Scheme (EIS) and the Knowledge Intensive Fund. Additionally, Par Equity is the largest partner in the British Business Bank program. This initiative aims to support and collaborate with regional business angels. In 2023, Par Equity launched its first institutional Scale-Up fund with €85 million in capital.
Praetura Ventures was founded in 2019. Since then, it has become one of the UK’s leaders. It supports regional startups, including Modern Milkman and Street Group. Praetura Ventures also manages institutional funds, such as NPIF II North West Equity. The latter manages €116 million.