Cambridge Innovation Capital raised £50m to back innovative businesses based in the “Cambridge Cluster”.
Backers included IP Group (LSE: IPO), which invested £5m and took an 8% stake, the University of Cambridge Endowment Fund, ARM Holdings plc, Invesco Perpetual and Lansdowne Partners.
Led by Peter Keen, CIC will invest long-term equity finance to help companies bridge the critical middle stage of commercial development.
The Board of Cambridge Innovation Capital is led by Non-Executive Chairman Edward Benthall, a former partner at Charterhouse Capital Partners, and also includes Mike Muller, Chief Technology Officer of ARM and Cambridge Enterprise Chief Executive, Tony Raven.
Cambridge (UK) is considered one of the most dynamic technology and business clusters in the world, with 19 science and business parks and over 1,500 high-tech companies, which operate across a wide range of technologies such as life sciences, engineering and computer science.