TLT advises Praetura Ventures on investment in cyber-security start-up

National law firm TLT has advised venture capital firm Praetura Ventures on its Northern Powerhouse Investment Fund II (NPIF II) investment into Manchester-based cybersecurity start-up, CloudGuard.

Praetura Ventures is a Manchester-based venture capital firm which invests in early-stage, high-growth businesses across the UK, with a particular focus on supporting entrepreneurs across the North of England. CloudGuard specialises in automation and AI-led cyber-attack detection, protection and response services to help businesses proactively remove threats in real time.

The new investment from Praetura, made via NPIF II – Praetura Equity Finance, which is managed by Praetura Ventures as part of the Northern Powerhouse Investment Fund, will allow CloudGuard to expand its Manchester-based hub, increasing its workforce from 30 to 50 and strengthening AI research with Manchester universities. It will also be used to grow the CloudGuard Cyber Academy, providing training and industry experience to talent of all ages and levels, including those seeking their first role in the industry or others who are looking to change careers.

TLT provided advice to Praetura on the investment. The team was led by corporate partner Victoria Zivkovic, with support from associate James Pike.

Commenting on the deal, Michael Rees, investment manager at Praetura Ventures, said: "Manchester has grown to become a leading cybersecurity ecosystem over the last several years because of companies like CloudGuard and their commitment to developing and growing the next generation of cybersecurity specialists locally.

“We would like to extend our thanks to TLT. This was our first time working with the firm, but we were absolutely delighted with our choice. Their extensive knowledge and experience helped the process to proceed as smoothly as possible”.

Corporate partner Victoria Zivkovic added: “Investment deals such as these are a crucial tool in boosting the Northern economy as well as increasing high-skilled job opportunities for people in the region. This deal demonstrates that investment opportunities are there for businesses with a strong proposition, as well as cementing the North West’s position as a hub for UK cyber-security.

“It was a pleasure working alongside the team at Praetura and we look forward to following the growth and development of CloudGuard following the injection of its new investment.”