Latest Deal Sees Manchester-Based PixelMax Secure £2m
Irwin Mitchell’s Corporate team has advised early stage venture capital specialist, Praetura Ventures, on two multi-million pound investments for fast-growing and innovative businesses.
Earlier this week Praetura Ventures confirmed it had led a £3.5m funding round for Enthuse to help the London-based fundraising and events platform strengthen its overseas presence and take on 50 staff.
Enthuse provides tools to more than 4,000 charities, including Macmillan Cancer Support, NSPCC, WWF and Save the Children, helping them raise more than £100m to date.
Praetura has now announced it has now also invested in the immersive communications platform Pixelmax.
Adam Kaucher, Corporate partner at Irwin Mitchell in Manchester, along with Greg Mazgajczyk, provided legal advice to Praetura Ventures on both deals.
Expert Opinion“Our team is delighted to have advised Praetura Ventures on these two deals.
“Both businesses are performing well and are hungry for more success. Praetura Ventures is the ideal partner to support Enthuse and PixelMax and help them move forward and realise their growth plans.”
Adam Kaucher - Partner
Manchester-based PixelMax uses 3D interactive technology to revolutionise the way content is delivered to mass audiences. It enables businesses to create and host their own virtual worlds, and is changing the way organisations inform, educate and engage with their audiences through the use of digital twinning, product or process simulation, and virtual environments.
The investment and support from Praetura Ventures and ACT Capital Partners will now allow PixelMax to expand its team and define its go-to-market strategy to drive growth.
Commenting on the PixelMax deal, Praetura Ventures’ director Mark Lyons said: “PixelMax’s innovative technology ensures the business has strong foundations and as the coronavirus pandemic continues to highlight the need for digital innovation across many industries there is a real appetite for the team to capitalise on. The management team is not only incredibly talented and passionate about what they do, they have the grit, resilience and determination that entrepreneurs need to succeed. We’re really looking forward to supporting them as they push forward and accelerate the growth of the business.
“I would like to take this opportunity to thank Irwin Mitchell for the expert guidance and support that they have provided throughout both of these deals.”