Cambridge Innovation Capital

Background 

Launched in 2013, Cambridge Innovation Capital (CIC) invests in deep-tech and life sciences businesses that have a connection with the Cambridge ecosystem.

Part of the UK’s celebrated Golden Triangle, Cambridge is home to some of the best science in the world. University of Cambridge affiliates have won 126 Nobel Prizes and Cambridge was ranked as Europe’s leading science and technological cluster by intensity and second in the world according to the Global Innovation Index (GII) 2024. 

The science and technology that emerges from Cambridge and its university presents a significant opportunity both for investors and for the UK economy should research be successfully commercialised. CIC has a privileged relationship with the University of Cambridge and is embedded in the local startup ecosystem, providing vital funding to some of the most promising ideas and research.

Support from the Bank 

The Bank has invested in two of CIC’s funds. In April 2022, the Bank committed £20 million to Cambridge Innovation Capital’s Fund II, bringing the total fund size of £225 million. This fund predominantly invests in companies at Series A round.

Following the success of this, the Bank subsequently made a £20 million commitment to CIC’s Opportunity Fund in February 2025, alongside Aviva Investors. This fund focuses more on growth-stage companies to help address the UK’s scale-up financing gap. 

The British Business Bank has also supported CIC portfolio companies through its co-investments, which have increased the size of scale up funding rounds. This includes Microbiotica, Cambridge GaN Devices, Nuclera, and Pragmatic Semiconductor.

Outcomes and Growth

Cambridge Innovation Capital plays an increasingly critical role in Cambridge’s venture landscape. CIC currently has an AUM of £600 million. It has supported over 115 founders and invested in more than 45 companies which have collectively raised over £3.2 billion, successfully drawing capital into the Cambridge ecosystem. The companies in its portfolio have hired over 2,750 employees during CIC’s period of investment. 

The companies it funds are often tackling some of the most significant societal challenges and are capable of delivering meaningful impact as well as returns.