Cambridge Innovation Capital (CIC), a VC firm focused on British DeepTech and life sciences, has announced a commitment of at least €115 million to invest in spinouts from the University of Cambridge. This investment is part of the new Fund III, a €288 million early-stage venture fund targeting the Cambridge ecosystem.
Andrew Williamson, Managing Partner at CIC, emphasized Cambridge’s leading role in DeepTech and life sciences. The new Entrepreneur in Residence (EIR) program provides academics access to £100 million for University of Cambridge spinouts, building on CIC’s partnership with the university to foster economic growth by developing world-class companies.
Since its founding in 2013, CIC has been a key player in a leading science and technology ecosystem, with a twelve-year track record. CIC manages over €693 million, investing in areas such as cancer therapies, AI, and quantum computing. Notable portfolio companies include CMR Surgical, Pragmatic, and Riverlane.
Cambridge spinouts add over €26 billion to the UK economy annually, leading Europe in producing unicorn companies like Darktrace and ARM. Dr. Diarmuid O’Brien, the University’s Pro-Vice-Chancellor for Innovation, noted that Cambridge led in creating spinout companies in 2024, generating £23 billion annually.
CIC’s EIR program, in collaboration with the University, will identify IP for commercialization, support academic founders, and accelerate technology commercialization. With a rolling cohort of up to six EIRs, the program aims to boost the number and quality of spinouts. It complements other initiatives such as the Founders program, the Technology Investment Fund, and a €34 million addition to the Cambridge Enterprise Ventures fund.
Recent success stories include Riverlane, T-Therapeutics, and Cambridge GaN Devices, each supported by CIC and CEV, showcasing the potential for scientific and technological innovation from Cambridge researchers.
The funding aligns with university initiatives for high-tech development at Cambridge West and a new Innovation Hub, aiming to support entrepreneurial academics and drive science and technology innovation.