Investment group PXN sets £1bn target for North start-ups
- kelseygarbutt
- 1 day ago
- 1 min read
A new group with a proven track record of backing start-ups in the North East has officially launched following receipt of Financial Conduct Authority approval - setting a target to unlock £1 billion in funding for high-growth companies.
PXN Group, formed from the merger of Par Equity and Praetura Ventures, plans to achieve this goal by 2030 with the aim of increasing investment into promising Northern businesses by 50 per cent.
Dave Foreman, CEO of PXN Group and founder of Praetura Ventures, said: "The data is clear, the North delivers exceptional returns, is home to more scale-ups and represents enormous untapped potential." Currently, London receives 60 per cent of UK venture capital, while the North receives just 10 per cent.
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