PXN Ventures has reopened applications for PraeSeed, its cohort-based preseed investment programme offering up to £1.6 million across 10-12 Northern startups, including opportunities for Leeds investment in early-stage businesses seeking their first institutional capital.
The six-week programme, funded by Northern Powerhouse Investment Fund II and running from June to July, provides successful applicants with £200,000 each alongside investor readiness workshops and one-to-one mentoring from experienced founders. Up to eight startups from the third cohort will secure equity investment, with applications closing April 10.
Dr Elizabeth Young, Investment Manager at PXN Ventures, said:
“PraeSeed has established itself as one of the key routes to funding for preseed businesses and founders across the North, so it’s a privilege to be taking the reins this year. What makes PraeSeed stand out is the focus on investor readiness and the ongoing support we give to the portfolio beyond the programme to help them scale whatever they’re building and raise further investment, which is something that’s often lacking for founders at the very earliest stages of their journeys.”
Leeds Investment Scene Benefits from Regional Preseed Programme
Since launching in 2024, PraeSeed has invested £3 million across 15 startups spanning Manchester, Leeds, Liverpool, Newcastle, Sheffield and other Northern cities. The programme’s success rate stands out: 85% of businesses funded in the 2024 cohort have raised additional funding following their PXN investment, including Whitehaven-based ScrubMarine which secured $1 million in December for its underwater ship-cleaning robot.
The Leeds investment programme culminates in an annual investor showcase in September, giving participants direct access to the region’s investment community. This year’s cohort will benefit from mentoring by George Fairhall from salary management app WAC, a 2024 PraeSeed participant, and Anish Kapoor, chief executive of Manchester fintech AccessPay.
The programme also continues to attract a diverse mix of founders; in 2025, 50% of investees were female-founded and 50% ethnic minority-founded, with a quarter being repeat applicants who had previously been unsuccessful — evidencing PXN’s commitment to supporting founders through multiple attempts.
PXN Ventures launched in November 2025 following the merger between Praetura Ventures and Par Equity, creating eight funds under management that provide multiple follow-on routes for pre-seed founders graduating the programme.
Why this matters for Leeds
PraeSeed gives Leeds startups direct access to £200,000 preseed funding with investor readiness support that’s driving real results—85% of previous cohorts have raised follow-on funding. This proves Leeds-based founders can secure the capital they need to scale without relocating to London, strengthening the city’s startup ecosystem. PXN’s eight-fund structure creates clear pathways from preseed through to Series A, meaning successful Leeds startups can grow locally and retain talent here, building a thriving tech community that keeps innovation and high-value jobs in the region.
