Two of the most prominent investors in the North of England, Scotland and Northern Ireland will be merging to create PXN Group – a new venture capital and investment firm with over £670 million in assets under management. As a combined entity, PXN Group will be the fastest-growing venture and investment firm outside of London and the South East, with both Praetura Ventures and Par Equity more than tripling their assets under management since 2021.
The merger, which is subject to regulatory clearance from the Financial Conduct Authority, will bring together Manchester-based Praetura Ventures and Edinburgh-founded Par Equity, two firms known for backing early-stage and scale-up businesses outside of London and the South East. By joining forces, PXN Group will unlock greater investment potential across underserved regions and offer a broader suite of opportunities for entrepreneurs, institutional investors, retail investors, public sector organisations, and financial advisers.
With more than 80% of UK venture capital still concentrated in London and the South East, the creation of PXN Group will help build category-leading companies in other parts of the country. It has been designed to drive more capital into the hands of promising founders in the North of the UK, through a world-class venture programme that supports founders as they scale. PXN Group will be capable of providing equity investments from £200,000 to £8 million, across multiple sectors and growth stages – from seed to scale.
The merger will also create a platform to help financial advisers to support their clients through a broader suite of investment products. PXN Group will have unrivalled access to geographically diversified growth equity opportunities, with a range of other products including their award-winning inheritance tax planning services.
Dave Foreman, founder of Praetura Ventures and now CEO of PXN Group, added:
“This isn’t just a merger – it’s the start of something greater. PXN Group combines deep regional roots, complementary strengths and a shared belief that founders deserve more than just money. We’re creating a platform built to last, to lead and deliver real impact in the places that matter most.”
Paul Munn, founder of Par Equity and now Executive Chair of PXN Group, added:
“We’ve always believed the North can produce globally significant companies – but it needs the right capital and support. PXN Group is built in the North, for the North, and this merger gives us the scale to do more of what we do best: back the most ambitious founders and help them build category-leading businesses.”