"Empirical Ventures has secured a £10 million commitment from the British Business Bank through its Regional Angels Programme, bringing the Bank's total support for the firm to £15 million. This funding will allow Empirical to write larger cheques to early-stage science-led founders across the UK, particularly outside London."
"The firm was founded by Dr. Ben Miles and Dr. Johnathan Matlock, who first worked together at Ziylo Ltd, a University of Bristol spinout developing glucose-sensing molecules for diabetes treatment. In 2018, Novo Nordisk acquired Ziylo in a deal potentially worth over $800 million."
"Empirical's thesis is that generalist investors are structurally poor at evaluating early-stage deep science startups, because they lack the domain knowledge to assess what is novel, what is technically de-risked, and what timelines are realistic."
Empirical Ventures, a Bristol-based deeptech fund, has received a £10 million commitment from the British Business Bank, raising total support to £15 million. This funding will enable the firm to invest larger amounts in early-stage science-led founders across the UK, particularly outside London. Co-founded by Dr. Ben Miles and Dr. Johnathan Matlock, Empirical Ventures aims to address the challenges generalist investors face in evaluating deep science startups by leveraging scientific expertise in their investment decisions.
Read at TNW | Investors-Funding
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