Venture Views: Praetura Ventures on providing more than capital

Foreman explains that one of the key ways the firm provides value is through its operational partners model, which groups together seasoned founders and investors. The group collectively provides an experienced point of view to obstacles the founders may face. “Their job within Praetura is to act as mentors and advisers to the founders and management teams. Our entire ethos is around helping founders to build the best business they can,” he says.

The initiative, which provides a sounding board for its investments, also adds to the firm’s mental health offering.

The VC firm is based in the North of England, and backs health and tech businesses, committing £1-3m as an initial investment.

Foreman says that starting the operational partners model was the sensible thing to do, given that the majority of VC firms are small in nature. “To support founders both financially and mentally, and making sure they’re making the best decisions for their business, that requires a large operation.”

The operational partner model came about in January 2020, where the firm recruited five senior professionals in its first year. That number has since risen to eight, with alumni firms including Dr Martens, Sky and Social Chain.

“That means we can provide real mentorship and real support and advice, to be able to give the time and effort required,” Foreman adds. “The knowledge that someone else has been there, seen it and done it can provide incredible psychological support, especially in times of uncertainty.”