17 Apr 2019
Cambridge Innovation Capital plc (CIC), the venture capital investor focused on intellectual property rich technology and life science businesses in the Cambridge ecosystem, announces the departure of its Chief Executive Officer, Victor Christou, following the successful completion of the recent fundraising.
Victor has spent over five years working for CIC, during most of which time he has been CEO. He has recently overseen the completion of CIC’s latest fundraising, raising £150 million from a wide group of investors. This new capital will ensure that CIC’s current portfolio of 25 companies will have access to the capital they need to reach maturity, whilst also allowing CIC to pursue new investment opportunities.
Victor said, “My time with CIC has been a fantastic journey. I have seen the company grow into a leading investor with an outstanding team. However, with the new funding in place I believe this is an opportune time to re-evaluate my career, with a view to moving back into a more hands-on investing role.”
CIC will be restructuring its management team in readiness for the next phase in CIC’s development. CIC’s Chairman, Edward Benthall will take on the role of Executive Chairman on an interim basis during this process.
Edward Benthall said, “Victor has made a huge contribution to the success of CIC. He has led the process of establishing a first-class investment team and an excellent portfolio of companies. He has also led two fundraising rounds, raising £225 million, taking CIC from its early foundation stage to becoming a principal investor in UK IP. He leaves with our gratitude for all that he has done for CIC and we wish him the very best for the next stages of his career.”