Praetura Group, the Manchester-based debt and equity capital provider to Northern SMEs, has announced a series of organisational and board changes.
David Foreman and Peadar O’Reilly, both co-founders of the Praetura Group, will lead Praetura Ventures and Praetura Debt Services respectively.
As a result of focusing on these two divisions, the group has announced the appointment of two new chairmen.
Steve Caunce joins as non-executive chairman. He was formerly CEO of AO World and previously CFO of Phones4U.
Gary Davison also joins as non-executive chairman of Praetura Debt Services. Gary is currently Managing Partner of Tosca Debt Capital.
Steve’s appointment comes as Praetura Ventures announces that it has raised £30m in the past 18 months via its EIS 2019, EIS 2020 and EIS Growth funds.
Meanwhile, as part of the changes, Praetura Group co-founder Mike Fletcher is stepping down as group CEO to become a non-executive director of the Group.
Steve Caunce, non-executive chairman of Praetura Ventures, comments: “I am thrilled to be joining Praetura Ventures as chairman, working closely with Dave and the wider team. Ventures is an exciting business which has raised a highly impressive £30m of capital over the past 18 months to support Northern entrepreneurs.
“The business is absolutely committed to providing ‘more than money’ to its investee companies. As such, I look forward to being able to help both the Praetura management team and the founders of the portfolio businesses as they scale.”
Praetura Group was founded in 2011. Since then it has supported SMEs across the UK with c. £400m of debt and equity funding solutions.