Investment firms set for £670 million merger

A new Northern investment group is set to scale businesses across the UK following a merger.

Par Equity and Praetura Ventures are joining forces to create PXN Group, a combined venture capital and investment powerhouse with £670 million in assets under management. 

If approved by the Financial Conduct Authority, the combined entity will be the fastest-growing venture and investment firm outside of London and the South East.

With offices in Leeds, Manchester, Edinburgh and London, bosses say PXN will focus on backing early-stage and scale-up companies across the North, Scotland and Northern Ireland.

They add that the group plans to support founders with equity investments from £200,000 to £8 million and will help financial advisers offer regionally diversified growth opportunities. 

Dave Foreman, founder of Praetura Ventures and now chief executive of PXN Group, said: “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.”

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