The types of businesses attracting this capital underscore that point. Tech remains a driving force, accounting for the highest volume of deals. This will come as no surprise to those working in the region’s digital economy, where a supportive tech ecosystem is fostering the rapid development of leading AI, fintech, cyber, and health tech start-ups and scale-ups. In Q1, we saw 12 tech investments, reinforcing the North West’s status as a top-tier destination for technology-led innovation.
Major raises, such as OneID’s £15.8 million and Plain’s £14.8 million, signal confidence and commitment from investors looking to back businesses that are scaling fast, solving real-world problems, and showing early signs of commercial traction. These aren’t speculative bets – they’re strategic, calculated plays.
And while tech often dominates the headlines, the largest raise of the quarter came from Oxbury, a specialist agricultural bank that secured £75.2 million to continue modernising finance for British farmers. This is a powerful reminder that innovation in the North West spans beyond digital. It is sector-diverse, deeply practical, and prepared to support transformation, innovation and fresh thinking in legacy industries.
Given the current climate, many investors are prioritising shorter-term returns and faster routes to profitability. This pragmatic shift is understandable in an environment marked by global financial volatility. However, it is crucial to recognise the importance of both short-term and long-term investment strategies.
IP-rich, research-heavy businesses in sectors like deep tech, life sciences, and advanced manufacturing are vital to the UK’s future economy. These businesses require patient capital, belief in long-term outcomes, and support for visionary ideas that may take years to fully commercialise. While short-term investments are necessary and beneficial, a balanced approach that includes long-term investments is essential to foster the innovation we will depend on in the future.
In a shifting global economy, there is no one-size-fits-all approach. There is room for shorter-term investments and more patient, longer-term strategies to ensure a robust and resilient economic landscape.
That’s why the call to action is both timely and essential. As a region, we must play a proactive role in supporting and de-risking investment into longer-term innovation. This involves fostering collaboration between universities and venture funds, establishing public-private partnerships to help absorb early-stage risk, and communicating a compelling narrative that highlights both the commercial benefits and societal value of backing these trailblazers.
The North West has all the necessary ingredients: strong universities, talent pipelines, accelerators, and a growing cohort of scale-ups demonstrating that world-class innovation can thrive outside of London, Cambridge, or Oxford. However, we are also responsible for ensuring that the momentum we’re building benefits all sectors and founders.
As we look ahead to the rest of 2025, we should strive for balance: celebrating the commercial successes of today while investing in the ideas that will drive the next decade. The North West has shown it can attract capital. The next challenge and opportunity lie in directing that capital to where it will have the greatest long-term impact. In a shifting global economy, there is room for short-term gains and patient, long-term investments to create a robust and resilient economic landscape.
