Scottish venture capital investor Par Equity has backed technology business with £38 million in the last year.

The investment in early-stage technology businesses across the north of the UK in 2022 was up from £25m in 2021, making it one of the most prominent and active technology investors in the region.

The firm backed 27 companies in 2022, of which ten were new additions to the portfolio.

One of the highlights of the year was the sale of Optoscribe, a developer of 3D lasers for telecommunications. The acquisition, by semiconductor manufacturer Intel Corporation, generated substantial returns for investors.

It also meant that Par Equity has returned capital back to its investor base every year for the past decade.

Edinburgh-based Par Equity has continued to build out its capabilities to lead and support Seed and Series A funding rounds.

The companies in which it invests typically operate in the fields of climate tech, health tech and industry 4.0.

Notable investments this year include Fuuse, an EV charge point management system, Integrated Graphene, a revolutionary 3D graphene foam, Novosound, the ultrasound sensor specialist and Nova Pangaea Technologies, a global leader in sustainable aviation fuel technology. 

Andrew Noble, partner at Par Equity, said: “These companies are reflective of the types of things we get excited about."

Paul Munn, managing partner at Par Equity, said: “I’m incredibly proud of the team’s achievements this year and the level of investment and support we’re bringing to the table, especially in a region which is largely underserved and overlooked.

"A vibrant start-up and scale-up community is vital to the economic future of the UK and we hope we are playing a small part in the Government’s important Levelling Up plans."

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