Funding the next in The North
The Northern Powerhouse Investment Fund II - Equity North West is levelling the playing field for businesses in the North. Our mission is to find, fund and scale ambitious founders across the region, including Cumbria, Cheshire and beyond.
to us
What is NPIF II?
NPIF II is a government-backed £660m commitment to backing break out stars in the North of England, including in rural and urban areas. The fund aims to generate economic growth and fuel innovation by creating opportunities for new and growing businesses. In spring 2024, we were named the fund manager for the North West region with a £100m mandate – making it the largest of NPIF II’s fund mandates.
Backing the best in the North as they scale
NPIF II – Praetura Equity Finance
We can invest up to £5m of equity in businesses based in the North West as well as companies that are committed to relocating here. The fund is also sector agnostic, meaning more opportunities for more founders – whether you’re scaling a tech, healthcare, hardware, consumer, sustainability or services sector business.
Looking for more support, investor readiness advice or funding for your pre-seed business? Our yearly PraeSeed programme is funded by NPIF II and is tailored specifically to pre-seed founders looking to grow. Find out more, here.
What sets us apart?
What sets PXN apart from other VCs is support. Raising money is just the start – real, long-term success comes from having trusted individuals in your corner who share your vision and know your sector or challenge inside out. How do we do this?
Operational Support When You Need It
Draw on our PXN Investment Network and portfolio team to access advice, useful resources and operational support.
Portfolio Toolkits Built Around Your Needs
From business cost savings to a black book of contacts in areas such as recruitment and property, our toolkit saves time and money.
Follow-On Funding to Unlock Opportunities
Access follow-on funding easier through our trusted co-investors, whether you’re raising a larger round or need bridge funding.
Experience that compounds our investment.
We combine capital with operational capability to push you further. Access sector expertise from those who’ve been there before.
More
than
money
PXN aren’t like any other VC. Their more than money promise goes to the core of what they’re trying to create. Consistently, they’re trying to find ways to support us and help us build the best business we can.
Gemma McCall, Culture Shift, Founder
Our Track Record
Each of our funds draws on the collective knowledge, experience and investment know-how of Par Equity and Praetura Ventures. The PXN investment team sit on the cap tables of the most well-known early-stage businesses, breakout successes and established companies in the North of the UK. We’re trusted by investors as well as founders and our track record reflects this…
We want to find the Next In The North
What we’re looking for?
Based in the North
We are deeply passionate about making an impact on the North, which means your headquarters must be based here or in the process of moving here.
Going for Growth
We’re looking for growth focused founders who are committed to scaling. We can deploy up to £5m of equity investment to help you build an incredible business.
Set for Scale
Where are you on the journey? We look for businesses that can show they’re going places. There’s no perfect formula, but we need to believe in you and your vision.
Celebrating 1 year of NPIF II
In spring 2025, we celebrated one year of NPIF II – Praetura Equity Finance by featuring the founders whose businesses have benefitted from NPIF II funding so far. Watch the video to learn more about how we’re backing the North’s best and brightest.
Apply for Funding
Join our portfolio of exceptional founders. Apply for funding from PXN Ventures, here. Alternatively, if you are an investor or adviser, visit our PXN Investments website to find out more.
