A new Venture Capital Trust (VCT) is set to channel its focus towards tech startups in the north of England.
Praetura Ventures has announced plans for a stock market float with the aim of raising £10 million of new investment, more if the demand exists.
Directors and associates of the Manchester-based VCT have committed to ploughing in just over £1 million of their own cash.
Since 2011, Praetura Group has been championing small to medium businesses, primarily in the north, raising over £544 million in assets under management.
Praetura Ventures alone manages £213 million. With the rapidly growing technology and life sciences sectors in northern England, notably in Manchester, Liverpool, and Leeds, Praetura aims to capitalise on this momentum, securing two-thirds of its deals outside London.
This investment strategy seeks to offer investors more attractive growth opportunities compared to London and the south-east, where competition between venture capitalists can lead to inflated valuations.
A tax-efficient method of investment, the popularity of VCTs continues to grow. Last year over £1 billion was ploughed into the sector, according to FT Adviser magazine.