Investor profile
Northern Gritstone
VC
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Northern Gritstone invests in science and technology-enabled, IP-rich businesses based in the North of England — predominantly spinouts from its 'Northern Arc' university partners (Leeds, Liverpool, Manchester and Sheffield) — with a philosophy of 'profit with purpose': delivering attractive returns to shareholders while generating high-skilled job creation and wider societal and economic impact in the region. The firm focuses on deep technology and life sciences companies with the ambition to solve global problems and scale worldwide, and aims to become a leading European spinout investment business for IP-rich businesses in deeptech and life sciences. Northern Gritstone acts as a long-term partner, providing patient permanent capital from pre-seed through to Series B and beyond, and wraps its investments with hands-on innovation services support to help founding teams build and scale at speed.
Notable quotes
“Our investment philosophy is 'profit with purpose' – we combine strong returns for our shareholders with wider societal and economic impact such as high-skilled job creation in the North of England. Our aim is to become a leading European spin-out investment business for IP-rich businesses in deeptech and life sciences.”
“Our ambition is to drive returns by establishing a world leading ecosystem of support and funding, built upon the concepts and inventions that the founding universities and the company's other partners have developed. I have been particularly impressed with how the firm has brought together a highly experienced team which blends deep investment management with business-building expertise, all united by a core belief that profitable organisations delivering top quartile returns to shareholders should have a wider societal purpose.”
“Since our inception, Northern Gritstone and co-investors have invested £366 million into science and technology-enabled early-stage businesses based in the North of England — in some of the UK's most exciting emerging sectors such as pioneering life-science, advanced materials, health technology, clean technology, cognitive computation and artificial intelligence.”
Team
Andy Naylor
Investment Director
James Gibbons
Investment Manager
Recent investments
| Company | Round | Size | Date |
|---|---|---|---|
| Iceotope Technologies | Series B | $26m | 2022-05-01 |
| Opteran | Seed | $4m | 2022-05-01 |
| Phagenesis | Series D | $42m | 2024-03-04 |
| Pragmatic Semiconductor | Series D | $230m | 2023-11-01 |
| Cavero Quantum | Seed | $1m | 2024-06-01 |
| Partful | Series A | — | 2024-11-01 |
| Literal Labs | Seed | — | 2024-12-01 |
| Silveray | Seed+ | — | 2024-11-01 |
| Imperagen | Seed | — | 2022-05-01 |
| QV Bioelectronics | Seed | — | 2023-01-01 |
Frequent co-investors
| VC firm | Deals together |
|---|---|
| British Patient Capital (British Business Bank) | 4 |
| ABC Impact | 3 |
| EQT Life Sciences | 2 |
| BGF | 2 |
| Octopus Ventures | 2 |
| Empirical Ventures | 2 |
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