Praetura Ventures Announces the Return of North-West-Focused Cohort Investment Programme PraeSeed

North West-based venture capital firm Praetura Ventures has announced the return of PraeSeed, the capital-first programme designed to support pre-seed and pre-revenue businesses in the North. Now entering its second year, PraeSeed was designed to help bridge the early-stage funding gap by providing equity investment and hands-on support to founders looking to build and scale from the region. The initiative is funded by NPIF II – Praetura Equity Finance, which is managed by Praetura as part of the Northern Powerhouse Investment Fund II.

Following a successful first cohort in 2024, applications are now open for this year’s cohort. The application stage will close in mid-April with up to 12 businesses securing a place, and up to seven of these receiving a £200k investment from NPIF II – Praetura Equity Finance at the end of the programme.

This year’s cohort will kick off their six-week programme in June from Praetura’s Manchester office. In addition to being assessed for investment, the shortlisted founders will also take part in the bespoke investor-readiness programme. This includes expert-led workshops and insights from experienced later-stage founders to help them with real-world scaling skills and connections into the ecosystem. Previously, these talks have included Northern success stories such as Rich Potter from Peak and Simon Mellin from Modern Milkman.

The first cohort included businesses from across Greater Manchester, Liverpool, Cheshire, Lancashire and Cumbria, as well as Yorkshire. The programme deployed £1.4m into seven companies spanning multiple sectors including life sciences, robotics, FinTech and SaaS, and many of these have since been approached by other investors looking to invest alongside. Over its five-year lifespan, PraeSeed aims to invest more than £6m into 35 Northern startups.

Despite record-levels of investment, many founders suggest that access to ‘first-cheque capital’ and investment-readiness expertise remain challenging in the North of England. Praetura and the British Business Bank are working in tandem with accelerators and other programmes in the region to help galvanise the support offered for high-growth businesses in the region.

Jess Jackson, PraeSeed Lead at Praetura Ventures, said: “The success of our first cohort proved there’s a real need for this kind of early-stage investment in the North. We’re excited to bring PraeSeed back for a second year and see more companies secure NPIF II funding.”

"Our focus remains on assessing the businesses thoroughly while giving founders access to the insights, network, and capital they need to take their first steps the right way. Those who secure investment will also have a clear pathway to follow-on funding, ensuring they can scale at pace.”

“We want founders to know that there’s an entire ecosystem here cheering them on. By learning from others who’ve scaled their own companies, they’ll be in the best possible position to build globally meaningful businesses from the North of England.”

Sue Barnard, Senior Investment Manager at British Business Bank, said: “This is a fantastic opportunity for businesses in the North West to not only have the chance to secure access to finance, but learn important information about how to fund your business in its early stages of

growth. From underwater robotics to pothole detectors, last year saw some innovative businesses secure vital funding to further develop their products and create jobs and we look forward to seeing the next cohort achieve their growth goals.”

Last year, Praetura Ventures was appointed by the British Business Bank to manage equity deals of up to £5m in the North West for the Northern Powerhouse Investment Fund II.

The £660m Northern Powerhouse Investment Fund II covers the entire North and provides loans from £25k to £2m and equity investment up to £5m to help a range of small and medium sized businesses to start up, scale up or stay ahead.

The purpose of the Northern Powerhouse Investment Fund II is to drive sustainable economic growth by supporting innovation and creating local opportunity for new and growing businesses across the North. The Northern Powerhouse Investment Fund II will increase the supply and diversity of early-stage finance for Northern smaller businesses, providing funds to firms that might otherwise not receive investment and help to break down barriers in access to finance.

How to Apply

Applications are completed via Praetura's website. All applicants are asked to download and complete a form, which is then attached to their submission. The closing date for applications will be 16th April and offers will be made in May. All applicants must accept the terms of the PraeSeed investment instrument detailed in the application process.

In addition to this, Q&A sessions with PraeSeed lead Jess Jackson will be taking place across Greater Manchester, Merseyside, Cheshire, Cumbria and Lancashire throughout March/April