Northern Gritstone secures a final close of £312m from regional pension funds and institutional investors
The investment business reached its final close anchored by local authority pension funds and institutional backers.
Northern Gritstone is an investment business focused on university spin-outs and intellectual property-rich enterprises across the North of England. The firm backs science and technology enterprises in sectors including advanced materials and health technology.
Northern Gritstone has secured a final close of £312m, bringing total commitments up to that figure with backing from a broad base of institutional and regional investors. The raise includes over £150m provided by local authority pension funds alongside additional support from regional metro mayors.
The capital will be deployed to support science and technology enterprises across the North of England, building upon the momentum of 15 initial investments made since the company first closed funding in May 2022. The firm continues to target IP-rich businesses operating in sectors such as advanced materials and health technology.
The raise featured contributions from prominent institutional backers including M&G and Columbia Threadneedle, alongside regional funds and British Patient Capital. Lazard Venture and Growth Banking advised Northern Gritstone on the transaction.
From the founder
"Our ability to raise funding on this scale highlights the support for the world-class science and innovation being developed in the North of England."
Jim O'Neill
Chair at Northern Gritstone
Use of funds
- 01Fund the next phase of growth
Investors
South Yorkshire Pension Fund
West Yorkshire Pension Fund
Greater Manchester Pension Fund
Merseyside Pension Fund
East Riding Pension Fund
M&G
Columbia Threadneedle
British Patient Capital
Lansdowne Partners
Bruntwood
About the company
Northern Gritstone
Northern Gritstone invests in university spin-outs and intellectual property-rich businesses in the North of England.