British Business Bank anchors Northern Gritstone's 20m rolling close as northern deeptech push gathers pace

"Northern Gritstone has pulled in a further £20 million of ordinary share commitments, taking its permanent capital base to £382 million, building on the £362 million closed in April 2025."

"The state-backed British Business Bank has written a £10 million cheque, lifting its total exposure to Northern Gritstone to £40 million and reinforcing its position as the single largest backer of UK venture and venture growth capital funds."

"Since launching in May 2022, Northern Gritstone has deployed capital into 51 companies spanning semiconductor design and manufacturing, advanced materials, secure computing, artificial intelligence, healthtech and gene therapies."

"The Northern Arc now sits alongside Oxford, Cambridge and London as the fourth pillar of the UK's 'Technology Diamond', which is structurally under-capitalised relative to the quality of its intellectual property pipeline."

Northern Gritstone has secured an additional £20 million in funding, bringing its total capital to £382 million. The British Business Bank has invested £10 million, increasing its total commitment to £40 million. This funding round is part of a larger fundraising initiative planned through 2026. Since its inception in May 2022, Northern Gritstone has invested in 51 companies, focusing on sectors like semiconductor design, healthtech, and artificial intelligence. The firm positions the Northern Arc as a key player in the UK's technology landscape, alongside Oxford and Cambridge.

Read at Business Matters