It is often said that the United Kingdom and Europe lacks the large level of growth funds for the start of the later phase the US has itself, and that is correct. According to the European Investment Fund, there are at least seven times more high -size VC funds in the US than in Europe. So the introduction of a new UK growth fund is important.
Cambridge Innovation Capital (CIC), which invests exclusively in the Cambridge ecosystem inside and around the famous university, has launched a new £ 100m ($ 126 million) ‘fund), essentially an growth fund. CIC has $ 757 million invested in over 40 companies and has a privileged relationship with the University of Cambridge.
The fund is being anchored by Aviva investors and the capital of British patients and will invest in deep technology companies and growth life sciences.
Two investments have already been made. The pragmatic semiconductor is a large designer and manufacturer of chips who has raised $ 389.3 million so far, while Riverlane is a quantum company for correction of calculation errors that has collected $ 120.7 million.
The new cic fund will invest up to 20 million (($ 25.2 million) for investments in the subsequent phase funding rounds of deep technology and lifestyle companies. Hope, of course, is to address the issue of gap During the UK funds for the beginnings of the later phase, which tends to lead to a drainage of those companies towards the countries of Other, usually SH.BA
In part, it is this issue that made the United Kingdom Government notify last month, its “plan of action”-a range of measures designed to boost the economy using it, and included a commitment to build “Silicon Valley “of Europe by loading with the existing technology super ecosystems around the famous Oxford and Cambridge universities. Plus, London, Oxford and Cambridge “Golden Triangle”, which includes five main universities in the UK, will also be given larger links, including transport, along with a pack of £ 14 billion in funding.
Andrew Williamson, a CIC management partner, told Techcrunch about a call that CIC had traditionally invested in the early phase companies about Cambridge, but there were many ripening in proven technologies.
“Historically, what we have done is when our companies go to series C phase … We didn’t have capital in our essential funds to make them investments (the later phase),” he said.
“So we offer them as co-investments for some of our LPs. But not many institutions, especially financial institutions, are really created to make direct investments in the company. So the genesis of this fund was in which they could participate. “
He added that one of the main directives from the United Kingdom Government at the British Business Bank is to address the subsequent phase gap in the capital’s capital: “So this is a perfect mission for what they are seeking to do, for New anchored funds like this. their pension fund capital in product growth assets. “
Exits from the cic portfolio include the sale of the Gyroscope Therapope therapy therapy therapy company in Novartis for $ 1.5 billion, the purchase of $ 285 million of the Petmedix Petmedix Home Treatment Developer, the sale of the inivata liquid platform in neogenomics for 390 million dollars, and selling the sound recognition of the developer sound Analytical audio.
Cambridge is best known for the production of some important companies, including ARM Holdings, ABCAM, DarkTrace and Bicycle Topics.
