Cambridge Innovation Capital's latest £150m investment set to fuel local university

Venture capital investor, Cambridge Innovation Capital plc (CIC) has completed a £150m funding round.

The firm focuses on intellectual property rich technology and life science businesses in the Cambridge ecosystem. This funding is set to bring the total amount of capital raised to date to £275m.

The financing was supported by a geographically diverse range of new strategic investors, with the University of Cambridge and Cambridge University Endowment Fund contributing the cornerstone investment.

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 general Cambridge ecosystem.

Victor Christou, CEO of CIC, said: “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 £125m in IP-rich technology and life science companies among which are leaders in fields as diverse as surgical robotics, flexible electronics, microbiome science [and] genomic diagnosis.

“The additional capital will enable us to fund our existing portfolio companies and invest in promising new companies in the Cambridge ecosystem.

“We look forward to continuing to work with both the University [of Cambridge] and our wider network in the Cambridge area.”

The financing is said to be one of the largest private financing rounds in Europe in 2019, and more than doubles the financial resources available to CIC.

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.”