Par Equity investments in tech SMEs clear £100m milestone
Edinburgh-based Par Equity has achieved a major milestone with more than £100 million invested in high-growth technology businesses.
The company, which backs emerging technology stars across the north of the UK, reached the milestone in mid-October.
Recent activity which helped to push Par over the threshold was its recent multi-million pound investment in Artus, a designer and supplier of HVAC (heating, ventilation and air conditioning) solutions.
Following the string of recent investments, Par now holds 43 companies in its portfolio, including Cumulus (Belfast), Nova Pangea Technologies (Middlesbrough), Integrated Graphene (Stirling) and Novosound (Glasgow).
Par Equity investors have received proceeds from the sale of its portfolio companies every year since 2013. Par expects 2021 to be its most successful year yet with the sale of Current Health, a “care-at-home technology platform”, to listed US business Best Buy.
Andrew Noble, partner at Par Equity, said: “Over the past few years we’ve seen the confluence of a maturing, successful portfolio and an accelerating technology M&A market, and because we often see a recycling of capital and talent, successful exits like Current Health have the potential to sling-shot exciting new ventures, like Artus, onto greater things.”
Managing partner Paul Munn added: “Crossing the £100 million mark for money deployed into young technology companies is a fantastic achievement.
“I’m grateful to everyone in the Par community for the work they’ve put in over the past thirteen years. We’ve built a strong platform for growth and we are excited about our future investment opportunities, both in terms of our venture capital and commercial forestry interests.”