(Alliance News) - Praetura Growth VCT PLC on Thursday said it will look to invest in firms in the northern England, as it eyes raising GBP10 million as part of a London float.

The venture capital trust is aiming to "rise to" the UK's levelling up agenda. It is looking to provide backing for companies predominantly based in the north of England.

"The company will invest in growth companies that require scale-up capital across a range of sectors including technology and healthcare," Praetura Growth said.

The firm is looking to raise GBP10 million through the issue of 10 million shares in its initial public offering on London's Main Market.

"The technology and life sciences sectors in the north of England have grown rapidly over the last decade and continue to gain recognition on a global stage. Manchester is at the heart of this momentum, being home to over 10,000 technology businesses and now boasting a GBP5 billion digital economy."

The company added: "Closely connected to other flourishing economic ecosystems, Manchester is flanked by Liverpool and Leeds both of which have pioneered their own technology sector success stories in recent years. Leeds is home to the UK's largest technology event, Leeds Digital Festival, and has established a thriving technology industry with strong sub sectors in fintech, health and gaming. Liverpool's digital economy has also made advancements in both health and creative technology recently."

By Eric Cunha, Alliance News news editor

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