Twin investments at Par Equity

Par Equity, the Edinburghbased venture capital outfit, has led investments totalling £3.2 million into two Northern Irish software companies.

Plotb ox and Datactics are said to represent a growing collective of technology businesses based in the country that are benefiting from“consistent support for start-ups from the private and public sector”.

Par Equity pointed to a study published last year by the Enterprise Research Centre suggesting that Northern Ireland has a higher proportion of companies exceeding £1 million turnover within three years than the rest of the UK. Par Equity partnered with Ironbridge Capital Partners on the £2m investment into Ballymena-based Plotbox. The company provides software for cemetery management, enabling the user to run ever y aspect from map - ping plots to maintaining records and deeds.

D at ac ti cs, meanwhile, is based in Belfast and received £1.2 mas part of a partnership between Par Equity and Kernel. The firm provides software tools for large scale institutions to manage vast volumes of data, while ensuring they remain compliant with regulations.

Investment manager at Par Equity, Graeme M ck ins try, said: “Northern Ireland is producing some very high-quality opportunities for venture capital investment. The government and councils are investing billions in business infrastructure projects that will run until the 2030s, providing fertile ground for entrepreneurship.

“And its universities are some of the best in the UK for research and commercialisation of intellectual property.

“Plotbox and Datactics are two of the best in class. Both firms have track records of strong sales growth and success in their core markets, and what’s key for us is that they’ve demonstrated both the scalability of their businesses and their customers’ appetite.”