A business accelerators set up by universities in Leeds, Sheffield and Manchester has raised more than £200m from investors.
Northern Gritstone is expected to begin deploying capital and making investments in innovative start-ups in the coming weeks having attracted investment from local authority pension funds, high net worth individuals, institutional investors and real estate investors active in the tech and science ecosystem of the region.
The group hopes to £500m overall, and has closed an initial raise of £215m which it will use to support the commercialisation of science and IP-rich businesses originating from the three universities.
