British Patient Capital Commits £20m to Cambridge Innovation Capital's £100m Opportunity Fund

British Patient Capital, a commercial division of the British Business Bank, has committed £20 million as a cornerstone investment in Cambridge Innovation Capital’s (CIC) £100 million Opportunity Fund. This move is further bolstered by contributions from Aviva Investors. Founded in 2013, CIC focuses on funding deep tech and life sciences enterprises linked to the Cambridge ecosystem, maintaining a vital relationship with the University of Cambridge. Cambridge itself has been recognized globally as a powerhouse in innovation, leading in science and technology, as per the Global Innovation Index 2024. Noteworthy alumni and spinouts include industry giants like ARM Holdings and Darktrace. The Opportunity Fund aims to tackle the UK's scale-up financing gap for growth-stage companies that are addressing significant societal issues. Initial investments have been directed towards Pragmatic Semiconductor and Riverlane, companies recognized for their innovation in chip design and quantum error correction, respectively. This commitment builds upon British Patient Capital's ongoing strategy to boost the UK's university spinouts, following previous investments in CIC’s second fund and other initiative funds.