Prime Highlights:
- PXN Group plans to unlock £1 billion in fundingfor Northern tech businesses by 2030.
- The firm aims to double support for high-growth companiesand attract more global investment to the North.
Key Facts:
- PXN Group currently manages £700 million in assetsand a portfolio generating £290 million in revenue.
- The team consists of 58 professionalsoperating across Manchester, Edinburgh, Yorkshire, and London.
Background:
PXN Group, formed from the merger of Par Equity and Praetura Ventures, has revealed plans to increase funding for fast-growing companies in Northern England and Scotland.
With approval in place, the group will put £300 million directly into Northern tech companies and aim to bring in another £700 million from UK and international investors.
Currently managing 115 active portfolio companies, PXN Group plans to double this number within four years, aiming to close the long-standing regional funding gap and position the North as a hub for global investment attention.
Dave Foreman, CEO of PXN Group and founder of Praetura Ventures, said that the North has huge potential and strong returns. He added that the group wants to attract global investors to the region while helping new founders grow.
Despite London continuing to attract the majority of UK venture capital, the North has a strong innovation base, productivity growth, and a growing pipeline of scale-ups. PXN Group starts with £700 million in managed assets, a portfolio earning £290 million, and a team of 58 people based in Manchester, Edinburgh, Yorkshire, and London.
In addition to its investment activity, PXN Group will expand services through PXN Investments, providing advisers and their clients with VCT, EIS, and inheritance tax planning solutions.
