Cambridge Innovation Capital (CIC), which invests in technology and healthcare firms, has raised £75m of new capital through private financing.
The funds have been secured from investors including Woodford Investment Management, the Oman Investment Fund, and other institutional investors as well as existing shareholders.
CIC was founded in 2013 by the University of Cambridge with an initial capital of £50m, which it intends to use as growth capital to support promising businesses coming out of the university and the Cambridge Cluster, Europe’s largest technology cluster.
CIC has so far invested about £33m in 13 technology startups in and around the Cambridge area.
The new funds, which have been raised ahead of will be used to offer additional investment to the businesses CIC already supports, as well as new investment opportunities.
After the new funding round, CIC will have about £95m to invest in the coming two or three years. The company is expected to go public in the next 18 months.
CIC CEO Victor Christou said: “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.”
