Cambridge Innovation Capital (CIC), the VC agency investing in British high-potential DeepTech and life sciences corporations, introduced they’re committing not less than €115 million to put money into spinouts from the University of Cambridge.
This funding kinds a part of the launch of Fund III, its newest €288 million early-stage enterprise fund centered on the Cambridge ecosystem, to put money into College of Cambridge spinouts.
Andrew Williamson, Managing Accomplice, CIC, mentioned: “Cambridge is on the forefront of innovation in deep tech and life sciences. Our new EIR programme will present lecturers and researchers with entry to the £100m we’re committing to College of Cambridge spinouts as they proceed to develop breakthrough applied sciences. This growth of CIC’s long-standing partnership with the College of Cambridge, which gives distinctive entry to the college’s lecturers and analysis, will assist assist the UK’s financial development by growing the subsequent technology of world-class corporations.”
Based in 2013, CIC is a longtime VC agency in what it calls “one of many world’s most impactful science and expertise ecosystems“, with a twelve-year observe document of figuring out, supporting and exiting science-driven corporations. Embedded within the UK innovation ecosystem and with entry to the College of Cambridge, CIC works intently with its buyers, together with main pension funds and household places of work.
CIC manages over €693 million of capital and invests throughout DeepTech and life sciences, from most cancers therapies, genomic diagnostics and surgical robotics, to AI, semiconductors and quantum computing. Notable portfolio corporations embody CMR Surgical, Pragmatic and Riverlane.
Cambridge spinouts contribute greater than €26 billion to the UK financial system yearly. The college has additionally produced the highest number of unicorn corporations of any European ecosystem. Notable successes embody world-leading expertise corporations reminiscent of Darktrace, ARM and Abcam.
Dr Diarmuid O’Brien, Professional-Vice-Chancellor for Innovation on the College of Cambridge, mentioned: “In 2024, the College of Cambridge created extra spinout corporations than another college. It has additionally produced probably the most unicorns of any European ecosystem and generates £23 billion in financial curiosity linked to analysis and commercialisation every year. We’re decided to do much more, and quicker, by initiatives reminiscent of the brand new EIR programme and by attracting funding into our spinout corporations working with companions like Cambridge Innovation Capital.”
To coincide with the funding dedication, CIC is launching a brand new Entrepreneur in Residence (EIR) programme, in partnership with the college, to establish IP with the potential for commercialisation and to assist tutorial Founders as they start to construct an organization. By matching skilled DeepTech and life sciences executives, a lot of whom have achieved vital exits with their earlier companies, with lecturers and high-potential IP, the EIR programme will purpose to extend the variety of high quality spinouts and speed up the trail in direction of viable commercialisation of the expertise.
The EIR programme, which is able to keep a rolling cohort of as much as six EIRs, is the newest mission to assist spinouts from the college. The College of Cambridge has additionally launched the Founders programme to assist new firm creation; the Expertise Funding Fund (TIF), a brand new proof of idea fund to de-risk world class analysis and allow quicker commercialisation; and an extra €34 million capital to the €115 million AUM Cambridge Enterprise Ventures (CEV) fund to assist rising college funding in spinouts.
Firms created throughout the EIR programme can entry the brand new funding to assist growth from inception by proof-of-concept to early-stage development.
Current examples of College success tales which this EIR programme will construct upon embody:
- Riverlane – A quantum computing firm based by former DAMTP tutorial, Dr Steve Brierley, with assist from CIC and CEV. It has raised over €105 million to ascertain a number one place within the discipline of quantum error correction.
- T-Therapeutics – A therapeutics firm, based by Prof. Allan Bradley, with a TCR discovery engine that may unlock the ability of T cells to deal with most cancers and autoimmune ailments. Primarily based on College IP, the corporate has raised funding from CEV, CIC and institutional buyers.
- Cambridge GaN Gadgets (CGD) – after profitable the 2017 postdoc marketing strategy competitors Dr Giorgio Longobardo and Prof. Florin Udrea based CGD. The corporate designs GaN energy electronics units for power environment friendly energy conversion and has raised over €43 million from CEV, CIC and a spread of institutional buyers.
The funding will search to make the most of the industrial potential in science and expertise innovation developed by Cambridge researchers and follows a collection of current initiatives from the college designed to assist entrepreneurial lecturers. These embody plans for 4 million sq. ft of high-tech growth at Cambridge West and a brand new Innovation Hub in central Cambridge to host spinouts, startups, and entrepreneurs.
