Praetura Ventures, the Manchester-based investor that backs quality businesses in high-value sectors, has launched the Praetura EIS Growth Fund as it continues to see increased demand for capital and support from high-growth businesses.
As an ‘evergreen’ fund, the Praetura EIS Growth Fund is looking to raise up to £30m per annum. It will soft close twice a year and the funds raised will be deployed to support the growth ambitions of businesses in the North and across the UK. This will include early-stage businesses looking for smaller, seed-stage investments as well as capital and support for more developed businesses that are looking to scale.
David Foreman, managing director at Praetura Ventures, said: “We speak to entrepreneurs and business owners that are seeking investment every day of the week and we know there is a huge demand for capital and support, now more than ever. Many entrepreneurs are actively looking for an investment partner that can provide more than just money and work by their side as they plan for the future and navigate their way through the challenges presented by COVID-19.
“Demand is particularly evident in the North of England, and there are some really exciting businesses in sectors as varied as artificial intelligence and healthtech that are looking for support. This, coupled with the positive response we’ve received from our investors after successfully closing and deploying two EIS funds, truly demonstrates the size of the opportunity and ensures we’re well placed to provide that support.”
The launch of the Praetura EIS Growth Fund follows a record 12 months which saw Praetura Ventures respond to increased demand from its network of high net-worth investors and financial advisers by raising more than £22m to invest in entrepreneurial businesses.
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