Northern Gritstone

Northern Gritstone is an independent investment company focused on supporting science and innovation-led businesses emerging from the North of England. The firm primarily targets spin-outs from the world-class research universities of Manchester, Leeds, Liverpool, and Sheffield, aiming to commercialize intellectual property and foster a vibrant innovation ecosystem in the region. Their investment philosophy, 'profit with purpose,' emphasizes delivering attractive returns to shareholders while also generating positive societal and economic impact, including high-skilled job creation and regional growth.

The firm was founded in 2020 and officially launched in July 2021, beginning its investment activities in 2022. Northern Gritstone was established by the Universities of Leeds, Manchester, and Sheffield to facilitate the commercialization of science and technology-related intellectual property in the North of England. Key leadership includes Lord Jim O'Neill as Non-Executive Chairman and Duncan Johnson as Chief Executive Officer.

Northern Gritstone invests across a range of sectors, including deep technology, life sciences, artificial intelligence, software, healthcare, advanced materials, clean energy, and semiconductor design and manufacturing. Their portfolio includes companies such as QV Bioelectronics, Opteran, Simanalytica, Imperagen, Iceotope, Pragmatic Semiconductor, Phlux Technology, and Apini Therapeutics. As of April 2026, the firm's permanent capital stands at £382 million, following a rolling close that included a cornerstone investment from the British Business Bank.

The team at Northern Gritstone comprises experienced professionals in venture capital and private equity, with expertise in developing early-stage businesses and university spin-outs. Notable team members include Chief Investment Officer Marion Bernard, CFO James Hadley, and several Investment Directors and Managers. The firm also provides comprehensive support services through its NG Innovation Services, offering talent management, growth advice, business services, and accelerator programs like NG Studios to help founding teams scale their companies.