New £20m life sciences fund launches to support businesses in Greater Manchester

A new fund has been launched to bolster 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 will be launched with an initial £20m with the aim of supporting innovation and growing the region’s knowledge economy, creating more skilled jobs and helping businesses to expand internationally.

The ‘GMC Life Sciences Fund By Praetura’ - a partnership between Greater Manchester Combined Authority (GMCA), Cheshire and Warrington Local Enterprise Partnership (LEP), Bruntwood SciTech and Praetura Ventures - will combine capital, expertise and resources to help investee companies in Greater Manchester, Cheshire and Warrington to scale.

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GMCA has committed £10m to the fund, whilst Cheshire and Warrington LEP and Bruntwood SciTech have both committed £5m 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-£2m to early-stage businesses and SMEs that are located in Greater Manchester, Cheshire or Warrington, or those that commit to relocating their operations there. The fund will be launched with an initial £20m with the aim of supporting innovation, creating more skilled jobs and helping businesses to expand internationally.

As the UK’s leading property provider dedicated to driving the growth of the science and technology sector,