Scottish venture capital firm Par Equity sees investment pick up with busy first quarter

The organization says it supports start-ups in the north of the UK that have made a technological breakthrough and are generating “significant” revenue.

In the 12 months to April, the investment manager invested a record £31.4m, an 83% year-on-year increase, and it added nine companies to its portfolio last year, covering areas such as digital health, clean technology, renewable energy and industry 4.0 (the fourth industrial revolution). The update comes after Par Equity said in January that it had injected some £25m into innovative tech companies in 2021, up from just over £12m in 2020.

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In the same month, the Par Equity team led a £1.7m investment in Miralis Fuuse, a Lancaster-based company which launched a year ago and built a kiosk management system charging station for electric vehicles and claims that it is helping to accelerate the transition to the future of electric mobility.

February also saw the announcement that Verlume, a specialist in smart energy management and storage technologies, had received £2.5m from a consortium led by Par Equity.

This followed the latter declaring in January that he had led his biggest seed round ever, with a $5.1m (£4.2m) injection into start-up SamsonVT, which aims to help manufacturers better access information.

Key staff at Edinburgh-based Machines With Vision, which Par Equity made a £2.5million investment in February. Photo: Stewart Attwood.

Par Equity added that while deploying a record amount in the 12 months to April, it also returned a larger amount to its investors in the same period, continuing its history of returning money to its investors every year. since 2013. He added that the most high-profile sale was Current Health, which was acquired by Best Buy Inc. for $400 million in October 2021.

Innovation

Andrew Noble, Partner at Par Equity, said: “We are delighted to find so many exciting technology companies to support in the North of the UK, many of which are a direct result of the fantastic innovation emerging from our exceptional universities. .

“Rapidly growing tech talent clusters in [artificial intelligence] and data science, robotics, nanotechnology and quantum computing are helping to shape the industries of the future and have the potential to put Scotland, Northern Ireland and Northern England on the map when it comes to technology investment.

“We are delighted to find so many exciting technology companies to support in the North of the UK,” says Andrew Noble, Partner at Par Equity. Photo: Ditte Solgaard Dunn, First Light Photography.

Par Equity says it was set up to invest in young companies in the north of England, Scotland and Northern Ireland, adding that it promotes a hybrid investment model, merging more than 200 members of its network of investors with its discretionary managed funds.

He points out that he won Angel Group of the Year in 2021, for example, was a finalist for VC House of the Year at the European Private Equity Awards 2022, and now, alongside other venture capital firms, has launched ESG_VC, a pan-European initiative aimed at providing start-up entrepreneurs with a framework and tools to build better businesses.

Laura J. Boyer