Cambridge Innovation Capital (CIC), the venture capital investor established by Cambridge Enterprise in 2013, has completed a funding round of £150 million, bringing the total amount of capital raised to date to £275 million. CIC focuses on IP-rich technology and life science businesses in the Cambridge ecosystem.
The new financing was supported by a geographically diverse range of new institutional and strategic investors, with the University of Cambridge and Cambridge University Endowment Fund contributing the cornerstone investment. The financing is one of the largest private financing rounds in Europe this year and more than doubles the financial resources available to CIC.
The funds raised will be used to support CIC’s current portfolio of 25 companies and enable investment in new opportunities arising from both the University of Cambridge and the wider Cambridge ecosystem.
“We are delighted by the support CIC has received from our existing shareholders and new investors in this financing round. The additional capital will enable us to fund our existing portfolio companies and invest in promising new companies in the Cambridge ecosystem. Our relationship with the University of Cambridge, including our privileged position as a preferred investor for the University, goes from strength to strength. We look forward to continuing to work with both the University and our wider network in the Cambridge area.”
Professor Stephen Toope, Vice Chancellor of the University of Cambridge, added, “CIC has grown since its launch to become a key part of the Cambridge ecosystem. It has provided support and investment to a portfolio of leading-edge businesses, each of which has the potential to substantially improve people’s lives. The University is delighted with what CIC has achieved to date and so has decided to participate in this funding round. We look forward to continuing our close relationship with the CIC team.”Tags: CIC, Stephen Toope, victor christou