Managing partner Paul Munn said the appointments formed part of an expansion strategy that has seen the firm “actively looking for opportunities in the north of England”.

Mr Croy has a background as a corporate lawyer and, prior to joining Par, was at law firm Addleshaw Goddard.

While there he worked on buyouts and early-stage investments for the private equity and venture capital industries, including several deals for Par. He has a first class honours degree from the University of Aberdeen and is a member of the Law Society of Scotland.

Mr Ewing joins from KPMG’s mergers and acquisitions team in Edinburgh, where he worked with private equity clients and owner-managed businesses across Scotland and the north of England. He also led KPMG’s corporate finance efforts in the Scottish start-up and scale-up communities.

Prior to working at KPMG, Mr Ewing was in corporate banking with NatWest, where he managed relationships with a portfolio of clients across Leeds and Manchester. He holds an MBA from Alliance Manchester Business School.

Welcoming the appointments, Mr Munn said: “Tom and Alastair are set to be a key part of our expansion strategy.

“Following our record-breaking Q4 in 2019, underpinned by our long-term commitment to early-stage investment in Scotland and our existing presence in Northern Ireland, we are investing to grow the business further.

“We are actively looking for opportunities in the North of England, so Alasdair is a great fit. Tom’s experience in investing in early-stage technology companies, including fintech will increase our strength in that important area.”

Mr Croy said: “Having worked closely alongside Par Equity as a corporate lawyer over recent years, it felt like a natural next step to join the team.

“It’s an exciting time to join Par given recent successful exits from Dukosi and DeltaDNA. I’m impressed by the promise shown in the existing investment portfolio and excited by the further growth possibilities of the Par EIS Fund.”

Mr Ewing said: “I’m absolutely delighted to be joining one of the UK’s pre-eminent early stage VC investors at a time when they are positioned for significant growth.

“This reflects the quality of the team and the success that they have delivered to date, and I can’t wait to play a part in the next chapter of Par.”