Key Cambridge, UK VC launches $126M fund to stem later-stage flight

It’s often said that the U.K. and Europe lack the huge level of growth funding for later-stage startups that the U.S. has for its own, and this is correct. According to the European Investment Fund, there are at least seven times more large-size VC funds in the U.S. than in Europe. So the appearance of a new growth fund in the UK is significant. Cambridge Innovation Capital (CIC), which invests exclusively in the Cambridge ecosystem in and around the famous university, has launched a new £100 million ($126 million) ‘Opportunity Fund’, essentially a growth fund. CIC has $757 million invested in over 40 companies and has a privileged relationship with the University of Cambridge. The fund is being anchored by Aviva Investors and British Patient Capital and will invest in growth-stage deep tech and life sciences companies. Two investments have already been made. Pragmatic Semiconductor is a large chip designer and manufacturer which has raised $389.3 million to date, while Riverlane, i ... Read full article.