Cambridge Innovation Capital Unveils £100m Opportunity Fund Targeting DeepTech and Life Sciences Growth
Funding | Feb 24, 2025 | Business Cloud
Cambridge Innovation Capital (CIC), a prominent UK-based investor, has announced the launch of a new £100 million Opportunity Fund. The fund, anchored by Aviva Investors and British Patient Capital, aims to support growth-stage companies within the DeepTech and life sciences sectors. Initially, it has invested in Pragmatic Semiconductor, a leading UK chip designer and manufacturer, and Riverlane, a specialist in quantum error correction. Andrew Williamson, Managing Partner at CIC, highlighted the fund's strategic intention to bridge the UK's scaleup financing gap, thereby staving off the outflow of UK talent seeking overseas investment. Since its inception in 2013, CIC has been instrumental in several high-profile exits, including deals with Novartis and Zoetis, and listing Bicycle Therapeutics on NASDAQ. Key stakeholders like Ben Luckett from Aviva and Christine Hockley from British Patient Capital have voiced their confidence in the fund's potential to foster the UK’s burgeoning tech ecosystem, particularly within the Cambridge cluster.
Sectors
- Venture Capital & Private Equity
- Technology & Electronics
- Biotechnology & Life Sciences
Geography
- United Kingdom – The fund is aimed at supporting UK-based DeepTech and life sciences businesses, emphasizing the UK's role as a technology hub.
- Cambridge – Cambridge is highlighted as a leading technology cluster and the base for CIC, where the investment activity is concentrated.
Industry
- Venture Capital & Private Equity – The article focuses on the establishment of a new investment fund by Cambridge Innovation Capital, which operates within the venture capital and private equity industry.
- Technology & Electronics – Pragmatic Semiconductor and Riverlane, companies receiving the fund's initial investments, are major players in the technology and electronics sectors.
- Biotechnology & Life Sciences – Cambridge Innovation Capital's focus on supporting growth-stage companies in the life sciences aligns the article with the biotechnology and life sciences sector.
Financials
- £100 million – The size of the Opportunity Fund launched by Cambridge Innovation Capital.
- Up to £20 million – The maximum amount CIC's Opportunity Fund will invest per later-stage round.
- $1.5 billion – Proceeds from the sale of Gyroscope Therapeutics by CIC.
- $285 million – Proceeds from the acquisition of PetMedix by Zoetis.
- $390 million – Proceeds from the sale of Inivata to NeoGenomics.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Cambridge Innovation Capital | Initiator of the Opportunity Fund | Company | Venture capital firm focused on investing in DeepTech and life sciences companies. |
| Aviva Investors | Anchor Investor | Company | Global asset manager investing in equity, real estate, and infrastructure markets. |
| British Patient Capital | Anchor Investor | Company | UK government-backed investor focused on supporting innovative British companies. |
| Pragmatic Semiconductor | Portfolio Company | Company | UK-based chip design and manufacturing company. |
| Riverlane | Portfolio Company | Company | Company specializing in quantum computing error correction. |
| Andrew Williamson | Managing Partner | Person | Managing Partner of Cambridge Innovation Capital. |
| Ben Luckett | Managing Director, Venture and Strategic Capital | Person | Senior executive at Aviva Investors. |
| Christine Hockley | Managing Director, Funds | Person | Executive at British Patient Capital. |