Cambridge Innovation Capital (CIC), the VC firm investing in the UK’s highest-potential deep tech and life sciences companies, announced that it is committing at least £100M (approximately €115M) to invest in spinouts from the University of Cambridge.
The £100M funding is part of the launch of CIC’s Fund III, its latest £250M (approximately €280M) early-stage venture fund focused on the Cambridge ecosystem.
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Fund utilisation
The funding will seek to leverage the vast commercial potential in science and technology innovation developed by Cambridge researchers.
This initiative follows several recent efforts by the university to support entrepreneurial academics.
These include plans for four million sq. ft of high-tech development at Cambridge West and an Innovation Hub in central Cambridge to host spinouts, startups, and entrepreneurs.
Launching Entrepreneur in Residence programme
Additionally, Cambridge Innovation Capital is launching a new Entrepreneur in Residence (EIR) programme, in partnership with the university, to identify IP that can be turned into businesses and to help academic founders get started.
The EIR programme will connect experienced leaders from deep tech and life sciences, who have successfully sold their businesses, with academics and promising IP.
This will help increase the number of successful spinout companies and speed up the process of bringing technology to market.
The EIR programme, which will maintain a rolling cohort of up to six EIRs, is the latest project to support spinouts from the university.
The University of Cambridge has started the Founders Programme to help create new companies. This includes the Technology Investment Fund (TIF), which will support promising research and speed up commercialisation.
The university has also added £30M to the existing £100M Cambridge Enterprise Ventures (CEV) fund to increase its investment in spinout companies.
Companies created within the EIR programme can access the new funding to support development from inception through proof-of-concept to early-stage growth.
Dr Diarmuid O’Brien, Pro-Vice-Chancellor for Innovation at the University of Cambridge, says, “In 2024, the University of Cambridge created more spinout companies than any other university. It has also produced the most unicorns of any European ecosystem and generates £23 billion in economic interest linked to research and commercialisation each year. We are determined to do even more, and faster, through initiatives such as the new EIR programme and by attracting investment into our spinout companies working with partners like Cambridge Innovation Capital.”
Cambridge Innovation Capital: Building deep tech and life sciences companies
Cambridge Innovation Capital (CIC) is a venture capital firm based in a major science and technology hub.
With twelve years of track record, CIC specialises in finding and supporting companies focused on science and technology.
CIC works with investors, including large pension funds and family offices, to create portfolios that emphasise scientific innovation and long-term value.
The firm manages over £600 million and invests in areas like deep tech and life sciences, including cancer treatments, genomic diagnostics, surgical robotics, AI, semiconductors, and quantum computing. Some of its notable companies are CMR Surgical, Pragmatic, and Riverlane.
Andrew Williamson, Managing Partner, CIC, says, “Cambridge is at the forefront of innovation in deep tech and life sciences. Our new EIR programme will provide academics and researchers with access to the £100m we are committing to University of Cambridge spinouts as they continue to develop breakthrough technologies. This expansion of CIC’s long-standing partnership with the University of Cambridge, which provides unique access to the university’s academics and research, will help support the UK’s economic growth by developing the next generation of world-class companies.”
