This week, Cambridge Innovation Capital closed its
second venture capital fund, CIC Fund II for £225 million. Cambridge Innovation
Capital is focused on building world-leading deep technology[1] and life sciences
businesses connected with the Cambridge ecosystem, one of the fastest growing
science and technology innovation ecosystems in the world.
Their fund will invest into exciting opportunities at the cutting edge of global health and technology innovation, and we are very pleased that many of CCLA’s clients will have exposure through CCLA’s investment in the fund.
Why have we invested?
The
combination of the funds focus on an attractive regional opportunity, with
unique access to dealflow, and its impressive team with a track record of
success is a very compelling overall proposition. The team at Cambridge Innovation Capital has
invested in c.40 deep tech and life sciences companies to date, with Fund II
already having made six investments. These include Riverlane, a quantum
computing software provider; Pretzel Therapeutics, a leading developer of
mitochondrial therapeutics; and Epitopea, a cancer immunotherapeutics company.
The
fund’s connection with the university gives it a unique edge, especially in
relation to other investors who might also be considering opportunities in this
space. The fund benefits from a unique relationship and integration with the
university that facilitates excellent visibility and preferential access to
investment opportunities. This is further supported by Cambridge Innovation
Capital’s own accelerator programmes to identify and nurture pre-seed capital
companies that could be future investments in this fund.
Cambridge
Innovation Capital has a strong team with both the venture capital experience
as well as the technical science expertise to assess the most promising
opportunities. A solid track record in their previous fund, as well as prior,
gives us the confidence in their ability to execute.
What do we expect to see?
By
investing in this fund, we are pleased to be able to help support the
development of innovative solutions to many of the health and technology
challenges the world faces today. As always, we believe that healthy
communities underpin healthy markets, and we would like to see the UK develop a
broader set of high value jobs, businesses, and industries to foster
greater economic prosperity. By making capital available, we can play a small
role in increasing the prospects of that to the benefit of both CCLA and our
clients as investors, as well as the UK more broadly.
Important Information
This
document is issued for information purposes only. It does not constitute the
provision of financial, investment or other professional advice. Past
performance is not a reliable indicator of future results. The value of
investments and the income derived from them may fall as well as rise.
Investors may not get back the amount originally invested and may lose money.
Any forward looking statements are based upon CCLA's current opinions,
expectations and projections. Such opinions, expectations or projections may be
subject to change at any time. CCLA undertakes no obligations to update or
revise these. Actual results could differ materially from those anticipated.
CCLA
Investment Management Limited is authorised and regulated by the Financial
Conduct Authority.
[1]
Deep technology (deep tech) or
hard tech is a classification of
organization, or more typically startup company, with the express objective of
providing technology solutions based on substantial scientific or engineering
challenges.