Northern Gritstone is a venture capital investment firm founded by the Universities of Leeds, Manchester, and Sheffield, focused on backing science, deeptech, and IP-rich spinouts in the North of England. Its inaugural fund closed at approximately £312 million (roughly $380 million USD) in October 2023.
Their most common stage is seed (44% of deals). Average disclosed round size is $57.1M (across 11 rounds with reported amounts).
Portfolio
27
Fund Size
—
Top Stage
Seed
Last 12 Mo
4
Team
Jane Madeley
UNIVERSITY APPOINTED NON-EXECUTIVE DIRECTOR
Portfolio Breakdown
Stage Distribution
Sector Distribution
Investment Activity
DealsAvg Round Size
Portfolio
27 investments
| Company | Round | Amount | Date |
|---|---|---|---|
 AmpliSi | Pre-Seed | — | Mar 2026 |
 Optalysys | Series A | — | Jan 2026 |
 Cytotrait | Seed | — | Jan 2026 |
 Sitehop | Unknown | $9.8M | Oct 2025 |
 Phlux | Series A | $10.7M | Mar 2025 |
| BBOW | Seed | — | Jan 2025 |
| SSamson Vti UK Limited | Series A | — | Dec 2024 |
 Silveray | Seed | — | Nov 2024 |
 Phagenesis | Series D | — | Mar 2024 |
 Floreon | Series A | $2.5M | Nov 2023 |
 PragmatIC Semiconductor | Unknown | $182M | Jan 2023 |
 Mimetrik | Seed | — | Jan 2023 |
 Opteran | Seed | $12M | Jun 2022 |
 QV Bioelectronics | Seed | — | Jun 2021 |
 Iceotope | Series B | $26M | — |
 Pragmatic | Unknown | $182M | — |
 Pencil Biosciences | Seed | — | — |
 Microlub | Seed | — | — |
 Exciting Instruments | Unknown | — | — |
| PPragmatic Semiconductor LIMITED | Unknown | $182M | — |
 Imperagen | Seed | $5M | — |
 Re:course | Seed | $4.3M | — |
| PPhlux Technology | Series A | $11.7M | — |
 Crucible Therapeutics | Unknown | — | — |
 Auxetec | Seed | — | — |
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Top Co-Investors
British Patient Capital5 shared
Foresight Ventures3 shared
Octopus Ventures3 shared
Praetura Ventures3 shared
British Business Bank3 shared
National Wealth Fund3 shared
Latitude3 shared
Cambridge Innovation Capital3 shared
Prosperity7 Ventures3 shared
BGF2 shared
Empirical Ventures2 shared
In-Q-Tel2 shared
IQ Capital2 shared
imec.xpand1 shared
ACF Investors1 shared
EQT Life Sciences1 shared
Aphelion Capital1 shared
Sectoral Asset Management1 shared
Amadeus Capital Partners1 shared
Last updated: 8 September 2026