Early-stage deep tech investor SCVC, has announced the first close of its second fund, with a target of up to $100 million.
The Bristol-based firm invests in advanced technologies to improve the health of people and the planet - from biotech to quantum tech.
SCVC’s first $17m seed fund has backed 12 companies working on everything from therapeutics and diagnostics to quantum sensors and semiconductors.
Recent investments include Delta g, which is pioneering a new generation of quantum gravity sensors, and Isomab, a pre-clinical stage biotech developing a breakthrough treatment for Peripheral Vascular Disease.
The additional fund will continue investing at Pre-Seed and Seed stage with initial cheque sizes of $500k up to $3 million. It will also provide follow-on funding of Series A tickets up to $7 million for top-performing companies.
Managing Partner Destecroix commented:
“Our portfolio is united by category-defining innovation driven by world-class founders, and the new fund allows us to double down on our mission and enable more scientists to become founders and turn their discoveries into inventions.
We believe the next decade will yield the most important industrial revolution in history. The gap between hardware and biology is vanishing and unlocking an enormous untapped dataset of our own biology.
Combined with AI, this gives us a once-in-a-generation investment opportunity to build high-impact technology companies.”
Lead image: SCVC