A newly launched AI fund has been launched in Yorkshire with the promise of investing millions into the area.
The new Oberon Yorkshire AI EIS Fund has been developed in association with Yorkshire AI Labs LLP (YAIL) in an attempt to position the region at the centre of the UK’s AI revolution.
It will target pioneering AI-driven companies across Northern England, with plans to capitalise on the region’s industrial heritage, strong technology ecosystem and leading research institutions.
Investments will focus on sectors including manufacturing, healthcare, transportation and financial services, where AI integration offers key economic and societal benefits.
YAIL, with whom the fund is being delivered in partnership with, is a specialist incubator that has previously built and scaled Yorkshire-based AI firms.
Its model combines sweat equity, capital and hands-on commercial strategy to create investor-ready businesses from scratch.
Meanwhile, London-based Oberon is an investment management and corporate broking business which has already been involved in the £5m IPO of IntelliAM – a Yorkshire-headquartered, AI-focused company part-owned by YAIL.
“This isn’t just a fund, it’s the next phase of a blueprint that’s already working,” said David Richards, founder of YAIL.
“We’ve shown that you can build nationally significant AI companies right here in Yorkshire.
“The Oberon Fund allows us to take that model and scale it, to back more founders, accelerate more platforms, and build an ecosystem the whole country can be proud of.”
Paul Sheehan, investment director, Oberon Yorkshire AI EIS, added: “The Oberon Yorkshire AI EIS Fund represents our belief in the significant economic and technological potential of the North of England.
“In collaboration with YAIL, we are afforded early access to a pipeline of rigorously selected high-potential growth companies in the AI space.
“With Oberon providing the investment structure and YAIL identifying the regional talent, this new venture is ripe for success in transforming untapped talent into high-performing, scalable businesses.”