Venture capital firm Par Equity has launched a £100 million fund targeting early-stage startups in the north of the UK.
In brief:
-Par Equity Ventures 1 is is Par Equity’s first ever institutional VC fund and aims to rebalance funding for early-stage companies across the country.
-The UK’s tech ecosystem is centred around London, with London, Oxford, and Cambridge absorbing 80% of venture capital investments.
-The firm has joined with the Scottish National Investment Bank and British Business Investments, with additional input from the Strathclyde Pension Fund.
What does this mean?
Partner Andrew Noble added: “People often forget that the North of the UK is a big market in its own right. Worth around $1trn GDP, it would be the eighth largest economy in Europe, but is still largely overlooked by investors.”
