Par Equity is to merge with Praetura Ventures and its adviser-focused arm, Praetura Investments, to create a new venture capital and investment firm, PXN Group.

The newly combined business, which remains subject to regulatory clearance from the Financial Conduct Authority, will have assets under management of £670m.

PXN will support financial advisers and their clients with a platform spanning business relief (BR)-qualifying investments, EIS, and VCT strategies.

The merger aims to create a stronger platform for financial advisers to access a geographically diversified selection of equity investments that qualify for EIS and VCT reliefs – supporting clients seeking growth opportunities across different stages of maturity.

PXN will focus on backing early-stage and high-growth businesses across the North of England, Scotland and Northern Ireland, while also scaling its BR-qualifying service, which supports inheritance tax planning through secured lending to SMEs.

Founder of Praetura Ventures and now PXN CEO, Dave Foreman, said: “This is more than a merger – it’s the foundation of a platform designed to scale. We’re combining specialist insight, long-term capital and a deep belief in the UK’s regional potential. For advisers, it means more tailored support and access to best-in-class tax-efficient investments – all from a single, unified group.”

Par Equity founder and now executive chair of PXN, Paul Munn, added: “We’ve always backed regions with potential and founders with global ambition. But to scale our impact, we needed to strengthen our distribution and deepen our relationships. Praetura was the natural fit, and this merger allows us to bring those strengths together to serve advisers and clients across the UK more effectively.”

---