A new £20 million fund, the ‘GMC Life Sciences Fund by Praetura’ has launched with the aim of bolstering Greater Manchester, Cheshire and Warrington’s flourishing life sciences sector.
The fund, raised by partners including Bruntwood SciTech, Greater Manchester Combined Authority (GMCA) and Cheshire and Warrington Local Enterprise Partnership (LEP), will be deployed by Manchester-based Praetura Ventures.
The fund is aiming to support innovation and growing the region’s knowledge economy, creating more skilled jobs and helping businesses to expand internationally.
GMCA has committed £10 million to the fund, whilst Cheshire and Warrington LEP and Bruntwood SciTech have both committed £5 million to continue to build on the North West’s world-leading cluster of clinical, academic and commercial life sciences assets, companies and expertise.
The ‘GMC Life Sciences Fund By Praetura’ will offer investment of £50k-£2 million to early-stage businesses and SMEs that are located in Greater Manchester, Cheshire or Warrington, or those that commit to relocating their operations there.