A warm welcome to our latest CIC newsletter. This edition covers an exciting period for CIC. We are delighted to share news of four new investments, our 2022 Impact and ESG report, continued team expansion and the launch of the Innovate Cambridge initiative.
Since the start of the new financial year, we have experienced increased volatility in our investment environment. Valuations of public and private companies in the deeptech and life sciences sectors in which CIC invests have declined from the highs set in 2021 back to 2019 levels. This has resulted in a slowdown of investment in these sectors and a near closing of the public markets to new IPOs.
CIC's portfolio is well positioned to navigate this period of volatility. Our companies are capitalised to reach their development milestones and we have worked to ensure they have investor bases to support their future growth.
Beyond this term period of volatility, we believe there are strong prospects for investing in deeptech and life sciences businesses. Science and technology innovation is key to meeting society’s need for improved health, sustainability, and prosperity. The Cambridge ecosystem in which we operate continues to be a powerhouse of innovation to meet these challenges.