Macfarlanes advises Northern Gritstone on securing initial fundraising at £215m

20 May 2022

Macfarlanes has advised Northern Gritstone, a new investment business focused on university spinouts in the north of England, on its initial fundraising, which raised £215m.

Northern Gritstone was founded by the Universities of Leeds, Manchester and Sheffield to support the commercialisation of science and IP-rich businesses emerging from the institutions.

The firm has received funding commitments from a diverse base of investors including pension funds, high-net-worth individuals, institutional investors and other investors active in the tech and science ecosystem of the region. Its investment activity will focus on fast-growing sectors such as advanced materials, health technology, cognitive computation and Al.

The Macfarlanes team was led by investment management partner Chris Daniel alongside partner Christopher Good and associate Harry Middleton. Share scheme advice was provided by partner Ras Berglund and associate Saba Palizi.

Chris Daniel comments: “We are delighted to have advised Northern Gritstone on the first stage of its fundraising journey, and we look forward to seeing the company grow further and invest in the opportunities coming from northern England's world class science and innovation hubs.”