This momentum from Praetura Ventures’ network and its appetite to invest meant the firm was able to deploy its record-breaking £15m maiden EIS 2019 fund in just seven months, which was shortly followed by the close of the £7m Praetura EIS 2020 fund.
The remainder of the firm’s EIS 2020 fund will be invested in a number of businesses over the coming months, after almost 70 per cent of the fund was deployed before the end of the 2019/20 tax year.
Alongside an injection of capital, the investee businesses receive the strategic support and guidance of the 25-strong team at Praetura Ventures, who work closely with the business leaders and management teams.
Jonathan Prescott, business development director at Praetura Ventures, added: “At a time when businesses are focused on resilience and growth against a challenging background, more and more advisers are recognising the important role venture capital and EIS can play in portfolio construction and financial planning.
“We also made a conscious decision to put the intermediary market at the heart of our thinking by creating a model that combines speed of deployment and diversity across our portfolio, in addition to making the most of the pricing opportunities in the North of England.”
Praetura was the first to back rapidly growing SaaS delivery management platform, Sorted Group, and in August 2019 participated in the £15m investment round led by Merian Chrysalis Investment Company, which made Sorted Group one of the North West’s fastest growing tech companies.
The firm was also the first to invest in AI and machine learning business, Peak, in 2016, and the business continues to go from strength to strength having recently raised £9.7m in an extended Series A funding round led by Praetura Ventures and MMC.
