UK-based Cambridge Innovation Capital (CIC), a venture capital firm backing life sciences and technology companies, raised USD 300 million (£225 million) in Fund II. The round took place on April 25, 2022. Investors in Fund II include a geographically diverse group of around 50 institutional and strategic investors, whereas almost half of the capital raised has come from UK-based investors.
Purpose of Funding for Cambridge Innovation Capital
With the recent fundraising in Fund II, Cambridge Innovation Capital now manages in excess of USD 637 million (£500 million).
The venture capital firm can now support its portfolio companies throughout their life cycle. It will provide investment capital as well as strategic and operational support.
With its funding from Fund I, CIC invested in more than 40 deeptech and life sciences companies. Moreover, Cambridge Innovation Capital’s Fund II already has made six investments. Its portfolio includes, Riverlane, a quantum computing software provider; Pretzel Therapeutics, a leading developer of mitochondrial therapeutics; Salience Labs, the photonic compute company; and Epitopea, a cancer immunotherapeutics company; Microbiotica, microbiome-based therapeutics and biomarkers; and Seldon machine learning deployment startup.
What the founder has to say
Andrew Williamson, the Managing Partner of Cambridge Innovation Capital, said, “Cambridge, UK is one of the fastest-growing science and technology innovation ecosystems in the world. Since our inception, CIC and our co-investors have invested more than £2 billion in sectors as diverse as robotics, semiconductors, genomics, gene therapy, therapeutics, liquid biopsy, artificial intelligence, and edge computing. We are delighted to launch our new fund and work with a dynamic group of entrepreneurs and investors to capture the full potential within the thriving Cambridge ecosystem.”
He further added, “With Fund II, we are eager to continue our mission of building substantial businesses that bring benefit to Cambridge, the UK, and the world.”
About Cambridge Innovation Capital
Cambridge Innovation Capital (CIC), the venture capital firm, focuses on building world-leading deeptech and life sciences businesses connected with the Cambridge ecosystem. In addition to its portfolio companies, Cambridge Innovation Capital co-founded two Cambridge-based business accelerators, DeepTech Labs and Start Codon.
The goal is to support deeptech and life science entrepreneurs to develop their commercialisation and technology strategy. Meanwhile, it will bridge the gap between translational research and Series A-ready businesses. It is a preferred investor for the University of Cambridge, Europe’s top source of founders for venture-backed startups.
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