Par Equity extends investment ambitions with Aberdeen venture

02/11/2020
Hugh Little, who will chair Par Equity's Aberdeen regional network

PAR Equity, the venture capitalist, is extending its successful investor network by setting up a regional network in Aberdeen.

Chaired by Hugh Little, who for many years ran Aberdeen Asset Management’s private equity business, the network will be seeking to identify new investors, and to invest in early stage disruptive technology companies from Aberdeen and the surrounding area.

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As chair of the new venture, Hugh brings unparalleled business and investment knowledge amassed over 28 years at Aberdeen Asset Management, where he built the company’s successful private equity business before becoming Head of Acquisitions for 10 years.  He was also a director of Aberdeen Football Club for 12 years and has been a non-executive director of several private equity backed companies in the region.

Hugh, who spent 28 years at Aberdeen Asset Management and was a Aberdeen Football Club board director, said: “Despite what has happened this year, Aberdeen is an exciting place for business with plenty of life in it.  As the market continues to move from traditional oil & gas exploration and extraction and its accompanying supply chain, to innovative high growth tech companies looking at carbon capture, renewables and zero emissions technology, the North East presents a significant investment opportunity.

“There are a wealth of innovators circling the energy ecosystem, and what they are working on now will dictate what the market looks like in the long term.

“Par Equity is keen to open up opportunities for those early stage companies by offering not only investment, but the right support and guidance to help them succeed.”

The Par Equity Aberdeen network is supported by law firm Addleshaw Goddard, and accountancy firm A²B, who will join Hugh as the eyes and ears of the initiative.

Par Equity has a track record in Aberdeen that it hopes to expand on.  Earlier this year it completed a £1.6m investment round with EC-OG, the Aberdeen subsea energy storage company, helping to create up to 40 jobs in the city and supporting future growth

Paul Atkinson, Par Equity partner, said: “We see huge potential in the Aberdeen market for investors to be part of some of the UK’s most exciting innovative firms.  At Par we are hands-on investors, providing experience and knowledge, as well as financial support.

“Following our success with EC-OG and Star Net, we are looking forward to discovering more opportunities among Aberdeen’s young companies. Hugh will be key to our success in the North-east, and his unrivalled knowledge of the local business landscape as well as his breadth of contacts makes Aberdeen the ideal place to begin our regional network strategy.”

 

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