London-based deep tech VC firm, IQ Capital, has announced the final close of its fourth Venture Fund at $200 million (Fund IV), taking its assets under management to more than $1 billion. Meanwhile it also launched its second $200 million Growth Fund to primarily to provide follow-up funding to its successful venture portfolios.
“Deep tech will play a pivotal role as both the UK and Europe continue to lead the way in developing technology that will have a lasting global impact. IQ Capital backs IP-rich technologies with the potential to dominate massive global markets, at a time when deep tech investment is at the forefront of investor's minds, topping $17 billion in 2022," says Kerry Baldwin, co-founder, Managing Partner, IQ Capital.
IQ Capital’s general partners, Kerry Baldwin, Max Bautin and Ed Stacey, have worked together for more than 20 years - IQ Capital’s investments include Thought Machine, a core-banking software unicorn which they backed from Seed, Nyobolt, ultra-fast charging battery tech, and Speechmatics, a speech recognition technology scale-up.
Investors in Fund IV include global institutions, funds-of-funds, family offices, corporates and tech entrepreneurs of whom several were previously backed by IQ Capital, as well as British Patient Capital.
“The world has seen many examples of the transformative impact that deep tech can create to achieve vital improvements in all spheres of life and help address some of the biggest challenges facing humanity. Breakthroughs in “novel AI” models, new energy & climate, robotics and space-tech, quantum computing, synthetic biology – all demonstrate what a significant opportunity deep tech now presents," says Max Bautin, co-founder, Managing Partner, IQ Capital and board member of Invest Europe.