Cambridge-based VC firm IQ Capital raises $300 million to double down on deep tech investments

IQ Capital, a venture capital firm focused on deep tech investments, has just announced the launch of its new $125 million Growth Opportunities Fund which will provide later-stage capital to outperforming companies in their existing venture portfolio. Along the launch comes the closing of IQ Capital’s third venture fund at $175 million. Together it brings the capital to be invested by the firm this year in deep tech in the UK to over $300 million.  

To date, IQ Capital achieved over 20 exits to companies including Oracle, Google, Apple, Huawei, and Facebook, and more than a couple IPOs. In the last year, IQ Capital has invested in 12 companies, including early-stage startups Causalens, Concirrus, and Iotic which will join Fund II scale-ups Thought Machine, Fluidic Analytics, Paragraf, and Speechmatics, driving IQ Capital’s self-reported portfolio value to over $1.2 billion.

Currently IQ Capital is investing at seed and Series A stage from its third venture fund. IQ Capital Fund III, what appeared to be a significantly oversubscribed fund, has welcomed among their investors National Grid Partners. NGP has joined British Patient Capital (a commercial arm of British Business Bank, the UK government’s economic development bank) and a number of global institutions that invested in the latest round closed by IQ Capital.