CIC was established to overcome the shortage of capital or ‘valley of death’ that historically forced many early-stage potential high-growth Cambridge companies to sell-up before they gained maturity. CIC provides long-term growth investment capital, is a preferred investor for University of Cambridge spinouts and its current portfolio includes a mix of high tech and life science businesses at various stages of development.
In October 2013 CIC raised an initial £50m with support from cornerstone investors Invesco Perpetual and Lansdowne Partners, and with further capital from investors including the University of Cambridge Endowment Fund, ARM Holdings plc and IP Group plc.
“The plan was to invest this initial capital over a two to three-year timescale, after which it would look to raise more capital,” said CIC Non-Executive Chairman, Edward Benthall, who thanked Peter for his key role in establishing CIC.
“Peter has been closely involved with a great many companies in Cambridge and elsewhere. His blend of entrepreneurial skill and financial management has secured the growth of a generation of technology-based businesses and, through the establishment of CIC, this legacy is set to continue."