10 August 2021: Manchester venture capital investor Praetura Ventures has today unveiled a £15m commitment from British Business Investments, to further support early-stage businesses and the ‘levelling up’ of funding in the regions.
Praetura Ventures will use the funding from British Business Investments, alongside its EIS funds and angels, to back even more companies in the future and provide company founders with everything they need to develop products, services and future-focused businesses.
British Business Investments, a commercial subsidiary of the British Business Bank, is making the commitment through its Regional Angels Programme, which seeks to address geographical imbalances around early-stage equity finance.
For Praetura, which backs companies in the North and UK-wide with a ‘more than money’ approach, the commitment is also a chance to connect investors to more diverse funds through investments in SaaS, AI, life sciences, medtech, gaming and more.
The news follows continued success in the EIS space for Praetura, with 19 business investments since 2019, and the recent appointment of heavyweight operational partners from Apple, The Co-op, Social Chain, OTSC and AO. As part of the offering, each partner provides regular one-on-one mentoring with relevant portfolio founders to help them on their journey. Access to those who have previously succeeded in scaling a company has helped Praetura’s portfolio better handle media relations, recruitment, marketing strategy and other challenges.
David Foreman, Managing Director of Praetura Ventures, which has raised circa £36 million for EIS businesses over the last two years, said: “From our headquarters in Manchester, we’ve seen regions across the North and the UK grow, thrive and continue to generate global recognition. We’ve been proud to play an active role in this great story, and it’s a privilege to be able to help even more founders scale exceptional companies. The response we’ve received confirms how important these investments are to the North as well as other thriving UK-wide regions and the UK economy.”
Judith Hartley, CEO of British Business Investments, said: “Our Regional Angels Programme is designed to address regional imbalances in the availability of angel finance, and to increase the amount of capital available to smaller businesses with high growth potential through angel networks. With this £15m commitment from British Business Investments, Praetura Ventures will be able to increase their support for early-stage businesses in the North and UK-wide.”
Companies that have already benefited from British Business Investments funding through Praetura include Deeside-based Reacta Biotech, which is developing oral tests to help those with suspected food allergies obtain a more accurate diagnosis.
Other businesses within Praetura’s portfolio include Patchwork, Dr Fertility, Pixelmax and Maxwellia – a pioneer in women’s health, who have recently achieved MHRA approval for their contraceptive pill Lovima, which will be the first of its kind available over the counter.
About Praetura Ventures
Praetura Ventures is a Manchester-based venture capital firm which invests in early-stage, high-growth businesses across the UK, with a particular focus on supporting entrepreneurs across the North of England.
Praetura Ventures is committed to adding value post-investment and providing the ‘more than money’ support that businesses need to grow, including additional expertise, resources, networks and guidance, to its investee companies.
Since 2019, Praetura Ventures has invested more than £31m in 19 businesses, including North West headquartered businesses Sorted, Culture Shift, LCC and Peak.
The firm also launched a Venture Partner programme – an innovative and collaborative programme that is aimed at experienced, connected and successful individuals who have a desire to add value and potentially provide mentorship, advice, introductions and investment to the next generation of entrepreneurs. In just a few months, the firm has grown its Venture Partner base to 50+ members, typically C-suite level individuals.
About British Business Investments
British Business Investments is the trading name of British Business Investments Ltd, a wholly-owned commercial subsidiary of British Business Bank plc, the UK government’s economic development bank. It forms part of the British Business Bank’s commercial arm.
British Business Investments aims to earn a commercial return by investing – through finance providers – in smaller businesses and small mid-caps, pursuing investments on a fully commercial basis without receiving any economic advantage from the government. Find out more at bbinv.co.uk.
British Business Bank plc and its subsidiary entities are not banking institutions and do not operate as such. Neither British Business Bank nor its principal operating subsidiaries are authorised or regulated by the Prudential Regulation Authority (PRA) or the Financial Conduct Authority (FCA). A complete legal structure chart for British Business Bank plc and its subsidiaries can be found on the British Business Bank plc website.
The funding from British Business Investments to Praetura Ventures does not amount to any endorsement or warranty from British Business Investments, the British Business Bank plc, or the government of the UK.
16th September 2021British Business Investments announces new £15m commitment to Liberty Leasing
10th August 2021Praetura Ventures secures £15m commitment from British Business Investments through the Regional Angels Programme
16th June 2021Isomer Capital announces first close of new €100m opportunities fund
3rd June 2021British Business Investments announces new £50m commitment to Apera Asset Management
27th May 2021Deepbridge secures £15m commitment from British Business Investments
24th March 2021British Business Investments announces new £10m commitment to Co-Fund NI through Regional Angels Programme
16th March 2021MML Ireland Announces Close of €135 Million Private Equity Fund Raised for Investment in Irish SMEs
27th January 2021British Business Investments announces new £10m commitment to Syndicate Room
19th January 2021British Business Investments commits €40m to Claret Fund III at first close
22nd December 2020Liberis adds £70m funding and venture debt to grow embedded business finance platform and help SMEs weather the COVID storm
11th December 2020British Business Investments announces new £25m commitment to Haydock Finance
26th November 2020Newable Ventures and Bristol Private Equity Club secure £10m commitment from British Business Investments
11th November 2020British Business Investments – Full year results for the period ending 31 March 2020
11th November 2020British Business Investments – Annual Report 2020
10th November 2020British Business Investments announces new £15m commitment to Compass Business Finance
5th November 2020British Business Investments announces new £30 million commitment to back UK SMEs through Funding Circle’s UK SME Direct Lending Fund
28th October 2020FDC launches new £100 million debt fund with investment from the West Midlands Pension Fund and British Business Investments
28th October 2020Assetz Capital secures additional £25m from British Business Investments
27th October 2020British Business Investments appoints Adam Kelly as new Managing Director
17th September 2020British Business Investments announces £30m Tier 2 investment in Shawbrook Bank as part of a £75 million capital raise
3rd September 2020British Business Investments announces a commitment of up to €75m to new Isomer Capital fund of funds, aimed at early stage venture capital managers
18th August 2020British Business Bank appoints CEO on an interim basis of commercial subsidiaries British Business Investments and British Patient Capital, along with new Chairs
9th July 2020British Business Investments announces a commitment of up to €120m to LGT Capital Partners funds
10th June 2020British Business Investments CEO appointed Interim CEO, British Business Bank
4th June 2020British Business Investments commits up to £40m to Columbia Lake Partners UK LLP’s second fund
13th May 2020British Business Investments commits £35m to Harwood Private Capital UK LP (“HPC UK SME Fund”)
23rd April 2020British Business Investments commits £10m to Startup Funding Club
17th April 2020British Business Investments and Par Equity to deliver £75m of investment to support ambitious entrepreneurs in the regions
20th March 2020Statement from the CEO with regards to the Coronavirus outbreak
13th March 2020Assetz Capital secures £15m British Business Investments funding to help boost UK housebuilding
11th March 2020Budget 2020: British Business Investments Response
4th February 2020British Business Investments commits £50m to fund targeting North and Midlands based businesses
27th December 2019Keith Morgan, Chair, British Business Investments, awarded CBE for services to small business finance
17th December 2019British Business Investments commits up to £100m to Hermes GPE in second cornerstone commitment through its Managed Funds Programme
30th October 2019British Business Investments makes £15m Tier 2 capital facility available to PCF Bank
16th October 2019British Business Investments – Full year results for the period ending 31 March 2019
16th October 2019British Business Investments Annual Report 2019
19th September 2019British Business Investments provides £25m funding line to North West asset finance provider Kingsway
12th September 2019British Business Investments commits £10m to Dow Schofield Watts Angels as first partner in Regional Angels Programme
4th September 2019British Business Investments commits up to €100m to Top Tier Capital Partners’ first vehicle dedicated to European Venture Capital
15th May 2019British Business Investments commits €27m to Bootstrap Europe II
2nd May 2019British Business Investments commits £50m to BOOST&Co’s Second Fund
6th March 2019Beechbrook Capital’s second UK SME Credit Fund reaches first close at £128m and completes first two investments
18th February 2019British Business Investments commits £20m to ThinCats to provide more debt finance to UK businesses
29th October 2018Autumn Budget 2018
23rd October 2018British Business Investments – Full year results for the period ending 31 March 2018
23rd October 2018British Business Investments Annual Report 2018
2nd October 2018British Business Investments makes £25m Tier 2 investment in Secure Trust Bank PLC
1st October 2018British Business Investments launches new £100m programme to support regional angel investment
1st October 2018Catherine Lewis La Torre appointed CEO of British Business Bank’s commercial patient capital activities
27th June 2018British Business Investments commits £31.15m to IQ Capital Fund III to support deep tech companies
16th May 2018British Business Investments provides £12m to asset finance specialist Universal Leasing Ltd
15th May 2018British Business Investments launches new £500m programme to increase access to patient capital
3rd May 2018Growth Capital firm Oxx announces first close of debut fund with commitment from British Business Investments
17th April 2018British Business Investments commits to Dawn Capital’s new venture capital fund
11th April 2018British Business Investments provides new finance facility to Liberis
28th February 2018British Business Investment commits £20m to new venture capital model from Kindred Capital
6th February 2018British Business Investments commits to a £30m boost for smaller businesses
22nd December 2017British Business Investment’s latest commitment boosts regional finance options for UK smaller businesses
11th December 2017British Business Investments commits £30 million at the first close of Shard Credit Partners first direct lending fund
4th December 2017British Business Investments and IGF to increase SME funding with new cash injection
30th November 2017British Business Investments commits £15m to Balderton’s new $375m fund
24th November 2017Budget 2017
23rd November 2017News from our partners – Seedcamp celebrates 10 year anniversary with £41M first close seed fund to invest in next generation of European entrepreneurs
16th November 2017British Business Investments commits £20m to £100m FPE Capital fund
16th November 2017Catherine Lewis La Torre at this year’s BVCA Summit
21st September 2017British Business Investments – Full Year Results for the Period Ending 31 March 2017
21st September 2017View our Annual Report for 2016-17
3rd August 2017British Business Bank Investments Ltd commits €40 million in first closing for Harbert European Growth Capital Fund II.
10th July 2017GCP caps a successful year with a £40m investment from British Business Bank Investments Ltd to complete the final close of Fund IV at £205m
29th June 2017BOOST&Co Limited secures additional £20m commitment from British Business Bank Investments Ltd for its Industrial Lending 1 fund
21st June 2017Atom bank secures £30m Tier 2 capital facility from British Business Bank Investments Ltd
21st April 2017British Business Bank Investments Ltd provides £6.6m of funding to Shire Leasing to boost asset finance for smaller businesses
2nd February 2017Beechbrook Capital closes £150m UK SME Credit I and backs two more businesses
18th January 2017British Business Bank Investments Ltd makes £400m from Autumn Statement available to venture capital funds
5th January 2017British Business Bank expands partnership with Funding Circle
8th November 2016British Business Bank Investments Ltd announces £10m commitment to new £260m technology fund
20th September 2016British Business Bank Investments Ltd – Full Year results for the period end 31 March 2016
20th September 2016View our Annual Report for FY2015-16
13th September 2016British Business Bank Investments Ltd commits £18m to northwest-based asset finance provider, enabling a £36m boost to smaller business growth
3rd August 2016British Business Bank Investments Ltd partner Beechbrook Capital holds first close on latest private debt fund
20th July 2016British Business Bank Investments Ltd provides £16.5m line to Northwest asset finance provider Kingsway under new expansion capital initiative
16th June 2016British Business Bank Investments Ltd names Catherine Lewis La Torre as Chief Executive Officer
17th May 2016British Business Bank Investments Ltd invests in Frog Capital II
14th April 2016British Business Bank Investments Ltd invests £30 million in first close of CORDET Direct Lending fund
31st March 2016British Business Bank Investments Ltd invests in Atlantic Bridge III, a new €140 million fund for Technology companies
22nd March 2016British Business Bank Investments Limited partners with Liberis to support funding for smaller UK businesses
10th March 2016British Business Bank Investments Limited publishes half year results for the six months ended 30 Sept 2015
22nd February 2016View our annual report for FY 2014-2015
19th February 2016British Business Bank Investments agrees £25m facility with Haydock Finance
19th January 2016British Business Bank Investments Ltd invests in new UK Private Debt Fund from Muzinich & Co
19th January 2016British Business Bank Investments Ltd – Annual Results and publication of 2015 Annual Report and Accounts
4th January 2016British Business Bank Investments Ltd-supported Beechbrook Capital’s inaugural UK SME Credit Fund holds first close at more than £100m
29th October 2015British Business Bank’s commercial arm supports UK SMEs with investment in Shawbrook Bank
17th September 2015British Business Bank’s VC Catalyst Fund invests in Nauta
27th March 2015British Business Bank Investments Limited makes €6m clean technology investment
2nd February 2015British Business Bank Investments backs Northwest asset finance provider with £5m investment, introduces new expansion capital initiative
31st October 2014£80 million boost for leasing finance as British Business Bank focuses on alternative lending for smaller businesses
24th September 2014British Business Bank partner BMS Finance provides debt finance to Whittle, one of the UK’s leading commercial painting contractors
2nd September 2014British Business Bank boosts European Capital UK SME fund to £100m to help provide debt finance to UK’s smaller businesses
6th August 2014Making Britain the global centre of financial innovation – £100m extra for British Business Bank Investment Programme
25th February 2014New £40m investment by British Business Bank to support £450m of lending to smaller businesses