Fostering Innovation: Par Equity's Initiative for the North

May 23, 2024

Fostering Innovation: Par Equity's Initiative for the North

Par Equity, an Edinburgh-based venture capital firm, has introduced a new venture fund, Par Equity Ventures I LP, with an initial closing of £67 million, targeting a total of £100 million. This fund is uniquely focused on addressing the venture capital funding imbalance in the North of England, Northern Ireland, and Scotland. It aims to catalyze the growth of tech enterprises in these traditionally underserved regions, promising a significant boost to the local tech ecosystem.

Key Takeaways on Par Equity’s New Venture Fund

  1. Initial Fund Closing: Par Equity's new venture fund, Par Equity Ventures I LP, has secured an initial closing of £67 million, signaling strong initial investor interest.
  2. Target Fund Size: The fund aims to reach a total of £100 million, highlighting Par Equity's ambitious goals for regional tech investment.
  3. Regional Focus: The fund is dedicated to addressing venture capital funding imbalances in the North of England, Northern Ireland, and Scotland, regions that have historically been underserved.
  4. Strategic Locations: With offices in Edinburgh and Leeds, Par Equity is well-positioned to directly influence and support tech growth in these regions.
  5. Support from Major Investors: Backing from the Scottish National Investment Bank, British Business Investments, and the Strathclyde Pension Fund reinforces the fund's credibility and potential impact.
  6. Boosting Local Start-ups: By providing substantial capital, the fund aims to invigorate the start-up scene, enhancing both the quantity and quality of tech enterprises.
  7. Long-term Economic Impact: The initiative promises to transform local start-ups into global competitors, fostering sustainable economic growth and technological innovation in the North.

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Unveiling Par Equity's New Venture Fund

Initial Fund Closing at £67 Million

Par Equity, an Edinburgh-based venture capital firm, has launched the Par Equity Ventures I LP, securing an impressive initial closing of £67 million. This fund is a testament to the firm's commitment to fostering innovation and addressing the venture capital funding imbalance in the North of England.

Aiming for a £100 Million Target

The ultimate goal for Par Equity Ventures I LP is to reach a fund size of £100 million. This ambitious target underscores the firm's dedication to empowering local startups and stimulating innovation on a grand scale.

Strategic Offices in Edinburgh and Leeds

With strategic offices set up in Edinburgh and Leeds, Par Equity is positioning itself at the heart of Northern England's tech scene. This move is designed to catalyze tech growth in traditionally underserved areas, promising a thriving future for the regional tech ecosystem.

Strategic Focus on the North

Addressing Regional Funding Imbalances

Par Equity's new venture fund is a strategic move to address the funding imbalances that have historically favored regions like Greater London and the 'Golden Triangle'. By channeling significant investments into the North, Par Equity is setting a guiding north star for economic and technological development in these often overlooked areas.

Catalyzing Tech Growth in Underserved Areas

The fund is not just about financial investment; it's about catalyzing a transformative tech growth in underserved areas of the North of England, Northern Ireland, and Scotland. This initiative is expected to fuel the growth of new technologies and businesses, creating a vibrant tech ecosystem.

Support from Major Investment Bodies

The initiative has garnered support from major investment bodies such as the Scottish National Investment Bank, British Business Investments, and the Strathclyde Pension Fund. This backing is crucial for the success of the fund and underscores the confidence in the North's potential to become a new hub for technological innovation.

Impact on the Regional Tech Ecosystem

Boosting Local Start-ups

The establishment of Par Equity's new venture fund is set to invigorate the local start-up scene significantly. By channeling much-needed capital into the hands of innovative entrepreneurs, the fund is not only expected to boost the number of viable tech start-ups but also enhance their quality and scalability. This strategic infusion of funds is anticipated to foster a more inclusive and diverse innovation landscape.

Creating a Ripple Effect in Tech Innovation

The ripple effects of this substantial investment are poised to transform the regional tech ecosystem profoundly. As capital flows into these underserved areas, it catalyzes the development of new technologies and business models, which in turn attracts further attention and investment from both national and international sources. The growth of these tech businesses is crucial for the sustainable development of the region's economy.

Promising a Thriving Future for Northern Tech

With the backing of major investment bodies and a clear focus on catalyzing tech growth, Par Equity's initiative promises a thriving future for Northern tech. The fund's impact is expected to extend beyond immediate financial gains, enhancing the overall economic health of the region and positioning the North as a hub for technological innovation and entrepreneurial success.

The Role of Key Stakeholders

Involvement of the Scottish National Investment Bank

The Scottish National Investment Bank plays a pivotal role in supporting Par Equity's initiatives, providing substantial financial backing and expertise. This involvement is crucial for the development of the tech sector in the North, ensuring that innovative projects receive the necessary resources to thrive.

British Business Investments' Support

British Business Investments has been instrumental in fostering growth within the region through its Regional Angels Programme. Their commitment to Par Equity's fund is a testament to their dedication to enhancing the economic landscape of Northern England, Northern Ireland, and Scotland.

The Strathclyde Pension Fund's Contribution

The Strathclyde Pension Fund's contribution to Par Equity's venture fund underscores the importance of diverse investment sources in building a robust tech ecosystem. Their financial support not only aids in immediate project funding but also bolsters long-term economic stability in the region.

Par Equity's Commitment to Innovation

Fostering Early-Stage Funding Ecosystems

Par Equity has established a robust framework to support early-stage companies, particularly those with strong intellectual property in sectors like health tech and climate tech. Their approach not only provides crucial capital but also nurtures an ecosystem where these companies can thrive and innovate.

Encouraging Series A Follow-On Commitments

The firm's strategic focus on Series A funding rounds is designed to ensure that tech enterprises have the necessary support to scale effectively. This commitment is evident in their operational bases in Edinburgh and Leeds, which facilitate close collaboration with portfolio companies.

Supporting High-Potential Tech Companies

By concentrating on high-potential tech companies, Par Equity is setting the stage for significant advancements in technology and business models. Their investment in cutting-edge technologies such as AI and robotics underscores their dedication to pushing the boundaries of what's possible in tech.

Future Prospects and Goals

Reaching the Full Fund Size

Par Equity's venture fund is on a steadfast journey to reach its ambitious target of £100 million. This milestone is pivotal for amplifying the fund's impact and enhancing its capability to support more high-potential tech companies across the North.

Transforming Local Start-ups into Global Leaders

The transformation of local start-ups into global leaders is central to Par Equity's strategy. By leveraging the region's untapped potential and fostering innovation, the fund aims to elevate Northern tech companies to compete on the international stage.

Stimulating Innovation on a Grand Scale

The fund's commitment to stimulating innovation extends beyond financial investments. It seeks to create a thriving ecosystem that empowers diverse teams through collaboration and equal opportunities for success, ultimately promising a prosperous future for the Northern tech landscape.

The Broader Impact on Venture Capital

Rebalancing Venture Capital Funding in the UK

The initiative by Par Equity is a significant step towards rebalancing venture capital funding in the UK. By focusing on regions that have traditionally been overlooked, this fund is set to correct long-standing imbalances and foster equitable growth across the country.

Highlighting the Importance of Regional Investments

Investments in regional markets are crucial for tapping into diverse entrepreneurship opportunities and realizing the full potential of local economies. This strategic focus not only enhances the innovation landscape but also supports sustainable economic development.

Promoting Diversity and Inclusion in Tech

The emphasis on regional funding also plays a pivotal role in promoting diversity and inclusion within the tech industry. By expanding the geographical scope of investments, Par Equity is helping to create a more inclusive environment that is conducive to innovation and growth.

Blockchain and Web3 Initiatives

Integrating Cutting-Edge Technologies

Par Equity is at the forefront of integrating cutting-edge technologies into the regional tech landscape. By focusing on Blockchain and Web3, the fund is set to enhance the capabilities of startups by providing them with the tools and resources necessary to innovate and compete on a global scale. This initiative is not just about funding but about building a robust infrastructure for sustained growth and innovation.

Enhancing the Tech Landscape

The introduction of Blockchain and Web3 technologies promises to significantly enhance the tech landscape in the North. These technologies offer decentralized solutions that can lead to more secure, transparent, and efficient operations for startups. Par Equity's initiative will help in cultivating a tech environment where these modern technologies can thrive, thereby attracting more innovative projects and investments.

Fostering a New Era of Growth and Opportunity

With the adoption of Blockchain and Web3, Par Equity is fostering a new era of growth and opportunity. This strategic move is expected to attract a wave of digital assets, cryptocurrencies, and non-fungible tokens (NFTs) projects, setting a foundation for a dynamic and diversified tech ecosystem in the region.


Par Equity's new venture fund, Par Equity Ventures I LP, marks a transformative step in the venture capital landscape, particularly for the North of England, Northern Ireland, and Scotland. By securing £67 million with a target of £100 million, this fund not only aims to rebalance venture capital distribution but also to ignite the tech potential of these regions. With the backing of significant organizations and a focus on Series A funding, Par Equity is set to foster a thriving ecosystem of innovation and growth. This initiative promises to elevate local startups to global prominence, making an indelible impact on the tech industry and beyond.

Frequently Asked Questions

What is the initial closing amount of Par Equity's new venture fund?

Par Equity's new venture fund, Par Equity Ventures I LP, has successfully secured an initial closing of £67 million.

What is the target fund size for Par Equity Ventures I LP?

The target fund size for Par Equity Ventures I LP is £100 million.

Where are Par Equity's strategic offices located for this fund?

Par Equity's strategic offices for this fund are located in Edinburgh and Leeds.

How does Par Equity's new fund aim to impact the regional tech ecosystem?

The fund aims to boost local start-ups, create a ripple effect in tech innovation, and promise a thriving future for Northern tech.

What role do major investment bodies play in Par Equity's initiative?

Major investment bodies like the Scottish National Investment Bank, British Business Investments, and the Strathclyde Pension Fund provide crucial support and investment, fostering early-stage funding ecosystems and encouraging Series A follow-on commitments.

What are the broader goals of Par Equity with this venture fund?

Par Equity aims to transform local start-ups into global leaders, stimulate innovation on a grand scale, and rebalance venture capital funding in the UK.