Praetura Ventures promises £15m for North West start-ups
Praetura Ventures has announced it will raise £15m for its first Enterprise Investment Scheme (EIS) fund. The EIS capital fund, due to close mid-May, is intended for 8-10 start-ups in the North West. It will target high-growth tech or IP-enabled businesses, aiming for a minimum return of 2x over a 5-7 year term.
This comes as part of Praetura Ventures’ stated mission to bridge the funding gap in the North West region. There is an estimated £300m venture capital shortfall for scaling businesses in the area, with the North West home to 10% of high growth companies but only 3% of VC funding.
David Foreman, Managing Director of Praetura Ventures, said: “The launch of
Praetura Ventures is part of the Praetura group, along with Praetura Asset Finance and Praetura Commercial Finance.