Northern Gritstone, the investment company scaling early-stage life sciences and technology companies from the Northern Arc universities of Leeds, Liverpool, Manchester and Sheffield, is opening an office in San Francisco.

Northern Gritstone CEO Duncan Johnson said the move will give the company better access to US capital.

He said: “It means you can grow quicker, because the US is better at procuring, and their risk appetite for technology is higher. It allows us to recruit more talent into our businesses.

“UK companies trade at a discount in the US, and capital is good at finding opportunities. But you’ve got to make the effort to go and make it easy for them.”

Five of Northern Gritstone’s portfolio companies already have US investors.

A spokesman for Northern Gritstone said: “Our first step is to recruit a venture partner on the ground in the Bay Area to give the rest of the portfolio a soft landing – a network, capital and business development from day one.

“The prize is real. Dealroom data shows UK companies backed by American investors typically raise larger rounds earlier and grow revenue four times faster over the two years after investment than peers backed only by UK money.

“Rooted in the North. Global in ambition. That’s how we proudly describe our portfolio companies.”