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 (50% of deals). Average disclosed round size is $72.7M (across 11 rounds with reported amounts).
Portfolio
29
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
34 investments
| Company | Round | Amount | Date |
|---|---|---|---|
 Silveray | Unknown | — | Jun 2026 |
 AmpliSi | Pre-Seed | — | Mar 2026 |
 Optalysys | Series A | — | Jan 2026 |
 Cytotrait | Seed | — | Jan 2026 |
 Sitehop | Seed | — | Oct 2025 |
| PPhlux Technology | Series A | $10.7M | Mar 2025 |
 BOW | Seed | — | Jan 2025 |
| SSamson Vti UK Limited | Series A | — | Dec 2024 |
| Silveray | Seed | — | Nov 2024 |
 Floreon | Series A | — | May 2024 |
 Phagenesis | Series D | — | Mar 2024 |
| Floreon | Series A | $2.5M | Nov 2023 |
 Pragmatic | Unknown | $182M | Jan 2023 |
 Mimetrik | Seed | — | Jan 2023 |
 Opteran | Seed | $12M | Jun 2022 |
| PPhlux Technology | Seed | — | Jan 2022 |
 QV Bioelectronics | Seed | — | Jun 2021 |
 Iceotope | Series B | $26M | — |
 Pragmatic | Unknown | $182M | — |
 Pencil Biosciences | Seed | — | — |
 Microlub | Seed | — | — |
 Exciting Instruments | Seed | — | — |
 adsilico | Seed | — | — |
| PPragmatic Semiconductor LIMITED | Unknown | $182M | — |
 Imperagen | Seed | $5M | — |
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Top Co-Investors
British Patient Capital6 shared
Octopus Ventures4 shared
National Wealth Fund4 shared
Latitude4 shared
Cambridge Innovation Capital4 shared
Prosperity7 Ventures4 shared
Foresight Ventures3 shared
BGF3 shared
Praetura Ventures3 shared
British Business Bank3 shared
In-Q-Tel3 shared
Future Planet Capital2 shared
ACF Investors2 shared
Empirical Ventures2 shared
IQ Capital2 shared
imec.xpand1 shared
Verve Ventures1 shared
EQT Life Sciences1 shared
Aphelion Capital1 shared
Last updated: 20 October 2026