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Cambridge Innovation Capital Raises £75 Million via Private Financing


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Cambridge Innovation Capital Raises £75 Million via Private Financing

19/08/2016

Cambridge Innovation Capital plc (“CIC” or “the Company”), a preferred investor for the University of Cambridge and a Cambridge-based investor in technology and healthcare companies, announces that it has raised £75m of new capital (the “Fundraising”).

CIC was founded in 2013 as an initiative by the University of Cambridge to create a local entity that would be able to provide growth capital to promising businesses arising from the University of Cambridge and the wider Cambridge Cluster, Europe’s largest technology cluster. CIC provides long term capital to support the sustained growth of investee companies.

CIC is a preferred investor of the University of Cambridge and has a unique relationship with Cambridge Enterprise, the commercialisation arm of the University, including co-investment opportunities and access to pre-emption rights over companies arising out of the University. In addition, CIC has established an unrivalled position within the Cambridge Cluster. To date, the Company has committed approximately £33 million to 13 companies in the rapidly-growing technology and healthcare sectors.

The new funds raised will be used to provide additional investment to CIC’s current portfolio, to invest in new opportunities created at the University of Cambridge and within the Cambridge Cluster and to expand the CIC team to allow the Company to capitalise on its strong inflow of new investment opportunities. The oversubscribed round was supported by new investors including Woodford Investment Management acting as agent on behalf of certain discretionally managed funds, Winton Ventures, the Oman Investment Fund and other institutional investors and existing shareholders including University of Cambridge Endowment Fund, Lansdowne Partners, ARM and IP Group plc.

CIC is led by a strong and diverse Board and management team. Edward Benthall is Non-Executive Chairman and was Chairman of Cambridge Enterprise Ltd between 2010 and 2014. Victor Christou, Chief Executive Officer, has 20 years of experience as both a venture capital investor and as an entrepreneur, founding and forming a spin out within an academic environment. Rob Sprawson, CIC’s Chief Financial Officer, has considerable professional and commercial experience especially in the healthcare, technology and IP commercialisation sectors.

Commenting on the Fundraising, Victor Christou, Chief Executive Officer of CIC, said: “We are delighted by the support we have received in this fundraising. 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. We thank our existing shareholders for their continued support and welcome our new shareholders with great enthusiasm.”

Professor Sir Leszek Borysiewicz, Vice-Chancellor of the University of Cambridge, said: “Over the last three years, CIC has grown and proven itself to be an integral part of the Cambridge ecosystem. The University is delighted to work with CIC as it continues its critical role in providing growth capital and support for the region and the country.”

Numis Securities Limited acted as sole financial adviser, broker and bookrunner in connection with the fundraising.


For additional information, please contact:

Cambridge Innovation Capital 
+44 (0)1223 764875
Victor Christou, Chief Executive Officer 
Louise Rich, Head of Communications

Numis +44 (0)20 7260 1000
Alex Ham
Garri Jones
Michael Meade
Freddie Barnfield

Consilium Strategic Communications (City, financial PR) +44 (0)20 3709 5700
Mary-Jane Elliott CIC@consilium-comms.com
Ivar Milligan
Lindsey Neville

Holdsworth (local and trade PR) +44 (0)1954 202789
Holdsworth Associates simon.burton@holdsworth-associates.co.uk
Rachel Holdsworth
Simon Burton


Notes for Editors


About Cambridge Innovation Capital

Cambridge Innovation Capital (“CIC”) invests in intellectual property rich companies in the Cambridge Cluster, combining a unique relationship with the University of Cambridge with deep financial and industry links to the area. The company strives to build leading businesses using a long term return strategy - removing the pressure to deliver the early exits associated with the traditional venture capital model.

CIC is led by an experienced investment team, an outstanding board and advisory panel of leading scientists and entrepreneurs, backed by long term institutional and strategic investors.

CIC has an unrivalled appreciation for world-leading scientific development given its position within the Cambridge Cluster. The company is committed to ensuring that its investment partners can build leading businesses from brilliant technologies - with the support of some of the most influential figures in the sector.

For further information, including details of CIC portfolio companies, see www.cicplc.co.uk
 

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