Key Cambridge, UK VC launches $126M fund to stem later stage flight

It is often said that for the UK and the next stage startups in Europe, the United States has its own lack of large level growth funds and it is correct. European investment contains at least in accordance with the funds More than seven times VC funds in the United States than Europe. So the presence of a new growth fund in the UK is significant.

Cambridge Innovation Capital (CIC), which invested exclusively in the Cambridge Ecosystem around the famous university, launched a new £ 100 million ($ 126 million) ‘Opportunity Fund’, originally funded by an growth. More than 5 CIC companies have $ 757 million investment and have a convenient relationship with the University of Cambridge.

The fund is being anchored by Aviva investor and British patient capital and will invest in Growth-Stage Deep Tech and Life Sciences companies.

Two have already been invested. Semiconductor A large chip designer and manufacturer that has collected $ 389.3 million so far, while RiverlenA quantum computing error correction company that has collected $ 120.7 million.

The new CIC Fund Deep Tech and Life Sciences companies will invest up to $ 20 million ($ 25.2 million) for investment in the next phase of funds. Of course, it is expected to address the issue of the UK’s long -lasting fund interval for startups in the next phase, which usually leads to a drain in the United States towards other countries in these companies.

As part, this is the only thing that the UK government managed to announce the government last month, using the “AI Action Plan” AII to enhance the economy and the promise of creating the “Silicon Valley” of Europe through super-charging included the famous Oxford and Cambridge. Technology ecosystem exists around universities. Plus, London, Oxford and Cambridge “Golden Triangle”, consisting of five top UK universities, will be provided more links, including transportation packages for $ 14 billion funds.

CIC’s managing partner Andrew Williamson told TechCrunch a call that the CIC was invested in the early stages of Cambridge, but there were many people that were mature in proven technologies.

“Histor Tihassically, what we have done is when our companies reach the series C stage…. We did not have the capital of our original funds to make them [later stage] Investment, “he said.

“So we used to offer some of them as LPs to co-investigate. However, many organizations, especially financial institutions, are not really set up for direct investment in companies. So they can participate in the genes of this fund. “

He also added that one of the main directives of the British Business Bank from the UK government is to address the gap in the next stage of the scale-up capital: “So for what they want to do is a perfect mission, this is a perfect mission to anchor the new one To fund the growth. In the case of Aviva, they are one of the signators Mansion House compactThe So it is in the vicinity of alloting some of their pension funds to the product of productive growth “

Exit from CIC’s portfolio include Novartis to the gene therapy company gyroscope therapeutics for $ 1.5 billion, acquisition of $ 285 million of pet treatment by Joitis, the sale of $ 390 million in Neogenmix’s fluid biopsy platform, and the sale of the sesame seeds.

Cambridge is best known for creating a number of notable companies, including ARM Holdings, Acocam, Darktress and Bicycle Therapeutics.