Tuesday, 20 August 2019

Cambridge Innovation Capital raises GBP150 million

01 April 2019 | News

The funds raised will be used to support CIC's current portfolio of 25 companies and enable investment in new opportunities arising from both the University of Cambridge and the wider Cambridge ecosystem.

Cambridge Innovation Capital plc (CIC), the venture capital investor focused on intellectual property rich technology and life science businesses in the Cambridge ecosystem, has completed a funding round of GBP150 million, bringing the total amount of capital raised to date to GBP275 million.

The financing was supported by a geographically diverse range of new institutional and strategic investors, with the University of Cambridge and Cambridge University Endowment Fund contributing the cornerstone investment. The financing is one of the largest private financing rounds in Europe this year and more than doubles the financial resources available to CIC.

The funds raised will be used to support CIC's current portfolio of 25 companies and enable investment in new opportunities arising from both the University of Cambridge and the wider Cambridge ecosystem.

Victor Christou, CEO of CIC, commented, "The Cambridge ecosystem holds one of the richest seams of scientific knowledge and technological innovation in the world. Since our inception in 2013, CIC has invested over GBP125 million in IP-rich technology and life science companies among which are leaders in fields as diverse as surgical robotics, flexible electronics, microbiome science, genomic diagnosis and edge intelligence and AI decision making software.

Professor Stephen Toope, Vice Chancellor of the University of Cambridge, added, "CIC has grown since its launch to become a key part of the Cambridge ecosystem. It has provided support and investment to a portfolio of leading-edge businesses, each of which has the potential to substantially improve people's lives. The University is delighted with what CIC has achieved to date and so has decided to participate in this funding round. We look forward to continuing our close relationship with the CIC team."

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