Advising Praetura Ventures on £100m Northern Powerhouse NW Equity Fund

We have advised Praetura Ventures as fund manager in respect of the constitution, structuring and establishment of the second generation of the Northern Powerhouse equity investment fund in the North West, established to support the growth of SMEs across the region.

The Northern Powerhouse Investment Fund II (NPIF II) has been launched by the British Business Bank (BBB), the Government’s economic development bank, in partnership with a number of funders to improve access to finance by providing early stage funding to small business based in the North West, North East, Yorkshire and the Humber and Tees Valley.

A total of nine fund managers across the North have been appointed by BBB with venture capital firm Praetura Ventures looking to provide up to £5m to businesses in the North West.

Paul Jefferson, Head of Private Equity and Manchester office head at Gateley Legal, assisted by Beth Wardle, advised Praetura Ventures on the constitution and structuring of the £100m equity fund.