Backing deeptech and life sciences startups with a connection to the Cambridge ecosystem, Cambridge Innovation Capital has reloaded the cannons and raised £225 million for its oversubscribed second fund.
Through this raise CIC now has over half a billion pounds in assets under management, a number that the firm says gives it the ability to help portfolio companies scale throughout their entire lifecycle.
“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,” commented CIC managing partner Andrew Williamson.
Founded in 2013, CIC is a financial and operational know-how force helping propel startups associated with the Cambridge ecosystem out of the lab and onto the market. The firm has invested in approximately 40 deeptech and life sciences companies to date, and with the new fund, now backing an additional six including quantum computing software provider Riverlane, Pretzel Therapeutics, a leading developer of mitochondrial therapeutics; and Epitopea, a cancer immunotherapeutics company.
CIC’s £225 million was assembled from a group of approximately 50 institutional and strategic investors, almost half of whom are based in the UK.
“We are delighted to launch our new fund and to work with a dynamic group of entrepreneurs and investors to capture the full potential within the thriving Cambridge ecosystem,” concluded Williamson.