Scrip | Kevin Grogan 25 Apr 2022
CIC raises £225m for second fund
Cambridge Innovation Capital partner Robert Tansley tells Scrip that the UK has “a really strong history of innovation in biological sciences and Cambridge has been at the forefront” but this has not equated to a substantial number of biotech companies “where we have lagged significantly behind the US.”
The dominance of the Cambridge-Boston cluster in the global biotech world shows no signs of diminishing but plans are afoot in the original Cambridge to boost the number of UK spin-out companies that can turn strong scientific ideas into viable concerns.
Leading the charge is Cambridge Innovation Capital (CIC), the venture capital investor focused on building deeptech and life sciences businesses connected with the ecosystem in the renowned university city. The group has just raised £225m ($300m) for its oversubscribed second fund which the support of around 50 institutional and strategic investors; almost half of the capital raised having come from UK-based backers.