Cambridge Innovation Capital plc, the technology and healthcare investor for the University of Cambridge, raised £75m of new capital.
The round was supported by new investors including Woodford Investment Management, Winton Ventures, the Oman Investment Fund and other institutional investors and existing shareholders including University of Cambridge Endowment Fund, Lansdowne Partners, ARM and IP Group plc.
The new funds will be used to provide additional investment to the current portfolio, to invest in new opportunities created at the University of Cambridge and within the Cambridge Cluster and to expand the team.
Founded in 2013 as an initiative of the University of Cambridge, CIC provides growth capital to promising businesses arising from the University of Cambridge and the wider Cambridge Cluster.
Led by Edward Benthall, Non-Executive Chairman, Victor Christou, Chief Executive Officer, Rob Sprawson, Chief Financial Officer, the firm partners with Cambridge Enterprise, the commercialization arm of the University, including co-investment opportunities and access to pre-emption rights over companies arising out of the University To date, CIC has committed approximately £33m to 13 companies in the technology and healthcare sectors.