The UK’s venture capital landscape has just received a massive shake-up with the merger of Praetura Ventures and Par Equity into PXN Group. With £670 million in managed funds, the newly-formed venture capital firm sets its sights on creating a new “golden triangle” in the North of England, Scotland, and Northern Ireland. PXN’s goal? To transform underserved regional innovation hubs into global tech and biotech powerhouses, challenging the dominance of London, Oxford, and Cambridge.
This startup news will particularly resonate with founders, freelancers, and early-stage entrepreneurs aspiring to secure investments in 2025. Keep reading to uncover how PXN can bolster your startup journey, plus examples, steps, and actionable tips on thriving in the budding northern VC ecosystem.
Why PXN Group Is A Gamechanger for Northern Startups
Historically, UK venture capital funding has been heavily skewed toward London and the South. In fact, London alone attracts 51% of all UK VC funding annually, compared to just 20% for the North, Scotland, and Northern Ireland combined. PXN’s aim is to level the playing field, ensuring regional founders are no longer sidelined.
Key Facts Behind PXN’s £670 Million Venture
- Formation: PXN Group emerged from the merger of Praetura Ventures (Manchester) and Par Equity (Edinburgh).
- Focus Areas: Biotech, SaaS, healthtech, climate tech, and industrial tech.
- Ambition: To build a northern “golden triangle” anchored by Manchester, Leeds, and Edinburgh.
- Funding Reach: Targets early-stage startups across the North of England, Scotland, and Northern Ireland.
Quote from PXN CEO Dave Foreman:
"Northern founders have been punching below their weight for decades… We’re here to build the ambition, scale, and resources they need to succeed."
5 Steps to Position Your Startup for PXN’s Investment
If you’re an entrepreneur from the North, you could be positioned to capture some of PXN’s financial backing. Here’s how:
- Focus on Regional Gaps:
- Startups solving problems in underserved tech verticals such as advanced materials, photonics, or AI solutions for industrial applications have higher chances of catching PXN's attention.
- Leverage PlayPal, an AI Co-founder Solution
- PlayPal, the innovative AI friend created by Fe/male Switch, can be your go-to tool for refining your pitch deck or brainstorming ideas for regional bottlenecks. Use it to shape your investment narrative!
- Apply for EU Funding with F/MS Grant Finder
- Founders can also boost their funding potential by using tools like the F/MS AI Grant Finder and Application Writer. This powerful software allows startups to quickly locate relevant EU grants and even drafts applications, helping founders secure alternative funding while preparing for private investment.
- Highlight Regional Embeddedness:
- Showcase how your startup impacts local communities in Manchester, Leeds, or Edinburgh. PXN is actively looking for businesses rooted in these areas.
- Engage with Northern Startup Ecosystems:
- Attend events, meetups, and accelerators in the North, such as Plug and Play UK, Shark Tank-style festivals, and local pitching contests hosted by PXN.
Inspiration: Top Example Startups from the North
1. PlayPal (Manchester) – AI Friend for Startups
Founded by Violetta Bonenkamp, PlayPal is a trailblazing AI platform designed to act as a virtual co-founder. PlayPal helps entrepreneurs refine ideas, develop pitches, practice language skills, and even manage stress.
2. Matillion (Manchester) – Data Engineering Unicorn
Matillion earned unicorn status by transforming data management for enterprises worldwide. It’s a prime example of how northern talent can scale globally.
3. Castore (Manchester) – Premium Performance Apparel
Castore disrupted the premium sportswear market and embodies the ambition PXN wants to invest in, being a scaling success rooted in the North.
For more startup stories and insights, explore EU Startups.
The Tools You Need to Accelerate
Legal Made Easy with AI Startup Lawyer
One common mistake young entrepreneurs make is signing bad contracts with investors or accelerators. Avoid this pitfall by using the AI-powered Startup Lawyer platform. It helps you upload legal agreements, like term sheets or CLAs, and highlights problematic clauses, provides negotiation tips, and even templates to safeguard your startup’s interests.
Validate Your Idea in the F/MS Sandbox
With Fe/male Switch’s Sandbox, founders can test and validate startup ideas step-by-step. Combined with PlayPal, northern startups have the tools to succeed in uncertain markets.
Most Common Mistakes to Avoid When Seeking VC Funding
- Insufficient Validation: Failing to validate your product-market fit before pitching can be a dealbreaker for VCs.
- Poor Grant Utilization: Founders often overlook EU funding opportunities as an alternative to raise capital. Use tools like the F/MS AI Grant Finder to address this gap.
- Ignoring Regional Potential: PXN seeks startups deeply engaged in their local ecosystems. Do your research and actively participate in community events.
Deep Insights on Northern Startups: Trends & Data
- Venture Capital Flow (2025):
- London still dominates, capturing ~£7 billion in funding YTD.
- Manchester, Edinburgh, and Leeds combined raised just £120 million outside of PXN's upcoming funding blitz.
- Northern Unicorn Count:
- Matillion and Castore are the leading lights, but PXN's goal is to create six more unicorns by 2030.
Learn More About Regional Growth
Discover the northern startup scene through these engaging Fe/male Switch startup videos on Malta, offering insights into government programs like residency schemes or VC partnerships that may serve as parallels for PXN's initiative.
Final Advice for Startups
The northern golden triangle backed by PXN is a once-in-a-generation opportunity for startups to access £670 million in funding, grow globally, and scale smarter. Whether you’re ideating, pitching, or scaling, resources like PlayPal, the F/MS AI Grant Finder, and AI Startup Lawyer can make your journey more structured and efficient.
Takeaway: PXN proves that innovation and ambition aren’t confined to London, northern trailblazers, this is your time! Secure your funding and leverage resources to reshape the UK startup ecosystem in 2025.
FAQ
1. What is PXN Group and why is it significant?
PXN Group is a newly formed £670m venture capital firm created through the merger of Praetura Ventures and Par Equity. Its focus is on transforming the North of England, Northern Ireland, and Scotland into global tech and biotech hubs. Explore PXN Group
2. What regions will PXN Group target for investment?
PXN Group will primarily focus on startups based in Manchester, Leeds, Edinburgh, and other underserved northern areas. The goal is to create a northern “golden triangle.” Learn more about the Northern Golden Triangle
3. What industries will PXN prioritize for funding?
PXN Group will target early-stage startups in biotech, SaaS, healthtech, climate tech, industrial tech, and AI solutions. Discover key industries PXN supports
4. How does PXN intend to disrupt London’s VC dominance?
PXN aims to level the playing field by funneling significant resources into northern startups, historically sidelined by the South's dominance. Learn more about PXN’s ambitions
5. How can startups prepare to attract funding from PXN?
Startups should focus on solving regional gaps, leveraging AI tools like PlayPal for pitch refinement, and engaging deeply with local ecosystems. Explore PlayPal for startups
6. What are the key mistakes founders make when seeking VC funding?
Common mistakes include overlooking product validation, neglecting regional embeddedness, and failing to capitalize on EU grant opportunities. Use F/MS AI Grant Finder
7. What are some successful startups from the North?
Notable examples include PlayPal, Matillion (data engineering unicorn), and Castore (premium sportswear scale-up). Discover Matillion’s journey
8. What is the current state of northern VC funding?
The North, Scotland, and Northern Ireland combined attract only 20% of all UK VC funding annually, compared to London’s dominant 51%. Understand funding disparities
9. What tools can northern founders leverage to scale their startups?
Founders can use resources like AI Startup Lawyer for contract reviews and the F/MS Sandbox for idea validation. Explore AI Startup Lawyer
10. What is PXN’s ultimate goal?
PXN aims to create six new unicorns in the North by 2030, striving to expand regional innovation hubs into global powerhouses. Learn about PXN’s unicorn ambitions
About the Author
Violetta Bonenkamp, also known as MeanCEO, is an experienced startup founder with an impressive educational background including an MBA and four other higher education degrees. She has over 20 years of work experience across multiple countries, including 5 years as a solopreneur and serial entrepreneur. Throughout her startup experience she has applied for multiple startup grants at the EU level, in the Netherlands and Malta, and her startups received quite a few of those. She’s been living, studying and working in many countries around the globe and her extensive multicultural experience has influenced her immensely.
Violetta is a true multiple specialist who has built expertise in Linguistics, Education, Business Management, Blockchain, Entrepreneurship, Intellectual Property, Game Design, AI, SEO, Digital Marketing, cyber security and zero code automations. Her extensive educational journey includes a Master of Arts in Linguistics and Education, an Advanced Master in Linguistics from Belgium (2006-2007), an MBA from Blekinge Institute of Technology in Sweden (2006-2008), and an Erasmus Mundus joint program European Master of Higher Education from universities in Norway, Finland, and Portugal (2009).
She is the founder of Fe/male Switch, a startup game that encourages women to enter STEM fields, and also leads CADChain, and multiple other projects like the Directory of 1,000 Startup Cities with a proprietary MeanCEO Index that ranks cities for female entrepreneurs. Violetta created the "gamepreneurship" methodology, which forms the scientific basis of her startup game. She also builds a lot of SEO tools for startups. Her achievements include being named one of the top 100 women in Europe by EU Startups in 2022 and being nominated for Impact Person of the year at the Dutch Blockchain Week. She is an author with Sifted and a speaker at different Universities. Recently she published a book on Startup Idea Validation the right way: from zero to first customers and beyond and launched a Directory of 1,500+ websites for startups to list themselves in order to gain traction and build backlinks.
Violetta Bonenkamp's expertise in CAD sector, IP protection and blockchain
Violetta Bonenkamp is recognized as a multidisciplinary expert with significant achievements in the CAD sector, intellectual property (IP) protection, and blockchain technology.
CAD Sector:
- Violetta is the CEO and co-founder of CADChain, a deep tech startup focused on developing IP management software specifically for CAD (Computer-Aided Design) data. CADChain addresses the lack of industry standards for CAD data protection and sharing, using innovative technology to secure and manage design data.
- She has led the company since its inception in 2018, overseeing R&D, PR, and business development, and driving the creation of products for platforms such as Autodesk Inventor, Blender, and SolidWorks.
- Her leadership has been instrumental in scaling CADChain from a small team to a significant player in the deeptech space, with a diverse, international team.
IP Protection:
- Violetta has built deep expertise in intellectual property, combining academic training with practical startup experience. She has taken specialized courses in IP from institutions like WIPO and the EU IPO.
- She is known for sharing actionable strategies for startup IP protection, leveraging both legal and technological approaches, and has published guides and content on this topic for the entrepreneurial community.
- Her work at CADChain directly addresses the need for robust IP protection in the engineering and design industries, integrating cybersecurity and compliance measures to safeguard digital assets.
Blockchain:
- Violetta’s entry into the blockchain sector began with the founding of CADChain, which uses blockchain as a core technology for securing and managing CAD data.
- She holds several certifications in blockchain and has participated in major hackathons and policy forums, such as the OECD Global Blockchain Policy Forum.
- Her expertise extends to applying blockchain for IP management, ensuring data integrity, traceability, and secure sharing in the CAD industry.
For the past several years Violetta has been living between the Netherlands and Malta, while also regularly traveling to different destinations around the globe, usually due to her entrepreneurial activities. This has led her to start writing about different locations and amenities from the POV of an entrepreneur. Here’s her recent article about best hotels in Italy to work from.
About the Publication
Fe/male Switch is an innovative startup platform designed to empower women entrepreneurs through an immersive, game-like experience. Founded in 2020 during the pandemic "without any funding and without any code," this non-profit initiative has evolved into a comprehensive educational tool for aspiring female entrepreneurs.The platform was co-founded by Violetta Shishkina-Bonenkamp, who serves as CEO and one of the lead authors of the Startup News branch. The Fe/male Switch team is located in several countries, including the Netherlands and Malta.
Mission and Purpose
Fe/male Switch Foundation was created to address the gender gap in the tech and entrepreneurship space. The platform aims to skill-up future female tech leaders and empower them to create resilient and innovative tech startups through what they call "gamepreneurship". By putting players in a virtual startup village where they must survive and thrive, the startup game allows women to test their entrepreneurial abilities without financial risk.
Key Features
The platform offers a unique blend of news, resources,learning, networking, and practical application within a supportive, female-focused environment:
- Skill Lab: Micro-modules covering essential startup skills
- Virtual Startup Building: Create or join startups and tackle real-world challenges
- AI Co-founder (PlayPal): Guides users through the startup process
- SANDBOX: A testing environment for idea validation before launch
- Wellness Integration: Virtual activities to balance work and self-care
- Marketplace: Buy or sell expert sessions and tutorials
Impact and Growth
Since its inception, Fe/male Switch has shown impressive growth:
- 3,000+ female entrepreneurs in the community
- 100+ startup tools built
- 5,000+ pieces of articles and news written
Partnerships
Fe/male Switch has formed strategic partnerships to enhance its offerings. In January 2022, it teamed up with global website builder Tilda to provide free access to website building tools and mentorship services for Fe/male Switch participants.
Recognition
Fe/male Switch has received media attention for its innovative approach to closing the gender gap in tech entrepreneurship. The platform has been featured in various publications highlighting its unique "play to learn and earn" model.
