Parkwalk Advisors, in collaboration with Northern Gritstone, the investment company chaired by Jim O’Neill, has announced the launch of the Northern Universities Venture Fund.
The fund is a new Enterprise Investment Scheme (EIS) fund offering investors access to early-stage IP-rich science and deeptech investment opportunities from the Universities of Leeds, Liverpool, Manchester and Sheffield.
The fund will be managed by Parkwalk Advisors, an active university spinout investor with over £500 million of assets under management, and will target investments across sectors such as quantum computing, AI, engineering biology, semiconductors, healthtech and clean technology.
The fund is supported by Northern Gritstone, which differentiates itself from other university-linked EIS’s through Northern Gritstone’s multi-year agreements with the four “Northern Arc” universities, giving it preferred investor access to university spinout opportunities.
Northern Gritstone recently announced further fundraising of £50 million from institutional investors including Aviva and Fulcrum Asset Management, bringing its total capital commitment to £362 million.
The collaboration aims to offer a new investment channel, fully managed by Parkwalk, specifically for high net worth individuals
Northern Gritstone CEO Duncan Johnson said: “I am convinced that the UK’s first trillion-dollar business will emerge from investing into UK university science and technology. The launch of Parkwalk’s Northern Universities Venture Fund is a way to bring untapped innovation from the North of England to a broader investor base.”
Parkwalk Advisors CEO Moray Wright said: “This collaboration brings together two of the UK’s leading forces in university commercialisation. Parkwalk’s expertise in venture capital and deep tech, combined with Northern Gritstone’s unrivalled university partnerships, means we can offer investors access to an exceptional and underexploited pipeline of innovation.”
Jim O’Neill, chair of Northern Gritstone, said: “The North’s universities are home to some of the most exciting science and technology coming out of the UK. This collaboration with Parkwalk is an opportunity for investors to support what are potentially the next generation of global companies and to support regional growth to the benefit of the UK.”