Cambridge Innovation Capital (CIC) has introduced a £100 million 'Opportunity Fund' to support later-stage deep tech and life sciences startups in the UK. This initiative is significantly important considering the disproportionate number of large VC funds in the US compared to Europe. With backing from Aviva Investors and British Patient Capital, the CIC plans to invest up to £20 million per company, addressing the long-standing funding gap that often drives UK startups to relocate to the US. This launch coincides with the UK government's broader strategy to enhance local tech ecosystems, particularly around Cambridge and Oxford.
According to the European Investment Fund, there are at least seven times more large-size VC funds in the US than in Europe.
Cambridge Innovation Capital (CIC) has launched a new £100 million 'Opportunity Fund', a significant growth fund focusing on deep tech and life sciences.
The fund aims to invest in growth-stage companies to address the UK's long-standing funding gap issue for later-stage startups.
The UK government recently announced an 'AI Action Plan' to enhance tech ecosystems, including a pledge to build Europe's "Silicon Valley".
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