Investor Profile: Par Equity — Thesis, Cheque Size & How to Apply

Par Equity is a venture capital firm founded in Edinburgh in 2008 that has built its reputation by backing high-growth technology companies across the north of the United Kingdom, rather than chasing London deals. For founders in Scotland, northern England and Northern Ireland, Par Equity funding is often the most credible local route to a serious Series A. Its model is a hybrid: institutional capital from its managed funds wrapped around a network of sophisticated angel investors who bring experience as well as money.

Thesis and sectors

Par Equity partners with early-stage companies operating business-to-business models with strong intellectual property. Its focus is health tech, climate tech and industrial tech, often driven by new technologies such as robotics, photonics, advanced materials and artificial intelligence. It invests across the north of the UK, including Scotland, northern England and Northern Ireland,.

Fund size and cheque size

Since its founding, Par Equity has invested over £160 million across 77 companies, leveraging a further £268 million of capital from third-party investors, with 30 realisations. Its flagship growth vehicle, Par Equity Ventures I LP, launched in October 2023 as a £100 million fund to support fast-growing tech companies in the north of the UK at Series A, securing a first close of £67 million from investors including the Scottish National Investment Bank, Strathclyde Pension Fund, British Business Investments and the University of Strathclyde. Third-party profiles put its typical investment range at £500,000 to £10 million from seed to Series A. In June 2025 Par Equity merged with Praetura Ventures and Praetura Investments to form PXN Group, with group assets under management reported at £670 million at merger and over £760 million on the group’s own site as at 30 June 2026.

Notable portfolio companies

The portfolio shows the thesis in action. Advanced Electric Machines, based in the north-east of England, secured £23 million to build metal-free sustainable electric vehicle motors, with Par Equity participating alongside Legal & General Capital and Barclays Sustainable Impact Capital. Cyacomb, an Edinburgh digital forensics company, secured £3.8 million in growth funding, and Glasgow-based Neuranics raised £1.9 million for magnetic sensing technology for healthcare and human-machine interfaces. Its best-known exit remains Edinburgh-based Current Health, whose sale to Best Buy was described as Europe’s second-largest digital health exit ever.

Team and programmes

Par Equity was launched in 2008 by Paul Munn, Robert Higginson, Paul Atkinson and Andrew Castell. Paul Munn serves as Managing Partner and, following the merger, executive chair of PXN Group, while partner Andrew Noble led the launch of Par Equity Ventures I LP. Par also runs a Par EIS Fund for investors, not a founder programme. No startup credits or perks scheme is publicly advertised for portfolio founders.

How to apply for funding from Par Equity

Founders can approach Par Equity through its website at parequity.com, noting that the firm has now merged into PXN Group. How to get funding from Par Equity starts with a clear fit check: a business-to-business model, strong intellectual property, and a base or growth plan in the north of the UK. Lead with traction and a credible Series A plan.