Cambridge Innovation Capital raises £75m

Cambridge Innovation Capital (CIC) has raised £75m of new capital that will be used to provide additional investment to the group’s current portfolio.

The capital will be used to invest in new opportunities at the University of Cambridge – for which it is a preferred investor – and to expand the company’s team to allow it to capitalise on the inflow of new investment opportunities.

The company, which invests in technology and healthcare companies, said the round was supported by new investors including Woodford Investment Management, Winton Ventures, the Oman Investment Fund and other institutional investors.

It was also supported by existing shareholders including University of Cambridge Endowment Fund, Lansdowne Partners, ARM and IP Group.

Chief executive officer Victor Christou said: “We are delighted by the support we have received in this fundraising. Since the inception of CIC and its initial fundraising in 2013, the company has made significant progress within the Cambridge Cluster, one of the richest seams of scientific and technological innovation in the world.

“This additional capital will enable CIC to continue to support exciting IP-rich companies and we look forward to continuing to work very closely with the University of Cambridge and our network within the Cambridge area.”

CIC was founded in 2013 as an initiative by the University of Cambridge to create a local entity that would be able to provide growth capital to promising businesses arising from the University of Cambridge and the wider Cambridge Cluster, Europe's largest technology cluster.