€87m for Cambridge Cluster fund

Cambridge Innovation Capital plc (CIC) was founded in 2013 as an initiative by the University of Cambridge. It aims to provide growth capital to spin-offs from the University of Cambridge and the wider Cambridge Cluster. CIC provides long-term capital to support the sustained growth of investee companies – so far, around £33m (€38m) has been invested.

“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,” said Victor Christou, Chief Executive Officer of CIC.

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.

Sir Leszek Borysiewicz, Vice-Chancellor of the University of Cambridge, commented: “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.”