British Patient Capital Commits £20m to Cambridge Innovation Capital's £100m Fund
Funding | Feb 21, 2025 | British Patient Capital
British Patient Capital (BPC), a subsidiary of the British Business Bank, has made a significant investment of £20 million as a cornerstone investor in Cambridge Innovation Capital's (CIC) new £100 million Opportunity Fund. CIC, established in 2013, focuses on deep tech and life sciences sectors linked to the Cambridge ecosystem, renowned for producing world-leading scientific and technical innovations. This infusion of capital aims to support growth-stage companies in these fields, addressing the prevalent UK scale-up financing gap. This fund has already channeled investments into prominent firms like Pragmatic Semiconductor and Riverlane. BPC's commitment extends its strategic partnership with CIC, having previously invested in CIC's second fund and other academic-linked incubators to advance UK's technological frontier.
Sectors
- Venture Capital and Private Equity
- Deep Tech and Life Sciences
Geography
- United Kingdom – The investment and associated companies are based in the UK, particularly focusing on the Cambridge cluster recognized for leading scientific and technological innovations.
Industry
- Venture Capital and Private Equity – The article discusses investment activities by British Patient Capital in the venture capital domain, with particular emphasis on funding growth-stage businesses.
- Deep Tech and Life Sciences – CIC's investment focus is on deep tech and life sciences sectors, which are a significant part of the article's discussion on addressing societal challenges.
Financials
- £20 million – The cornerstone commitment made by British Patient Capital to the Cambridge Innovation Capital's £100 million Opportunity Fund.
- £100 million – The total size of the Cambridge Innovation Capital Opportunity Fund.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| British Patient Capital | Investor | Company | A commercial subsidiary of the British Business Bank focused on supporting the scale-up financing gap in the UK. |
| Cambridge Innovation Capital | Fund Manager | Company | Invests in deep tech and life sciences sectors with connections to the Cambridge ecosystem. |
| Aviva Investors | Co-Investor | Company | Partnered as a co-investor in the Cambridge Innovation Capital fund. |
| Pragmatic Semiconductor | Portfolio Company | Company | A company within BPC's investment portfolio focusing on semiconductor design. |
| Riverlane | Portfolio Company | Company | A quantum error correction company newly funded by the CIC Opportunity Fund. |
| University of Cambridge | Institutional Partner | Organization | Provides a technical and academic foundation for the startups affiliated with the fund. |