Cambridge Innovation Capital Commits €115 Million To Spinouts From The University Of Cambridge

The funding is part of CIC’s newly launched Fund III — a €288 million early-stage venture fund dedicated to strengthening the Cambridge innovation ecosystem.

Andrew Williamson, Managing Partner, CIC, said: “Cambridge is at the forefront of innovation in deep tech and life sciences. Our new EIR programme will provide academics and researchers with access to the £100m we are committing to University of Cambridge spinouts as they continue to develop breakthrough technologies. This expansion of CIC’s long-standing partnership with the University of Cambridge, which provides unique access to the university’s academics and research, will help support the UK’s economic growth by developing the next generation of world-class companies.”

Cambridge Innovation Capital (CIC), founded in 2013, is a well-established VC firm based in one of the world’s leading science and tech hubs. With 12 years of experience, CIC has a strong track record of backing and scaling science-focused startups.

Deeply connected to the UK innovation scene and the University of Cambridge, CIC partners with major investors like pension funds and family offices. It manages over €693 million and invests in areas like cancer treatment, genetic diagnostics, surgical robotics, AI, semiconductors, and quantum computing.

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Its portfolio includes standout names like CMR Surgical, Pragmatic, and Riverlane. Cambridge spinouts add over €26 billion to the UK economy each year, and the university has produced more unicorns than any other in Europe — including tech giants like Darktrace, ARM, and Abcam.

Dr Diarmuid O’Brien, Pro-Vice-Chancellor for Innovation at the University of Cambridge, said: “In 2024, the University of Cambridge created more spinout companies than any other university. It has also produced the most unicorns of any European ecosystem and generates £23 billion in economic interest linked to research and commercialisation each year. We are determined to do even more, and faster, through initiatives such as the new EIR programme and by attracting investment into our spinout companies working with partners like Cambridge Innovation Capital.”

As part of its new funding initiative, Cambridge Innovation Capital (CIC) is launching an Entrepreneur in Residence (EIR) programme in partnership with the University of Cambridge.

The goal is to identify research with strong commercial potential and support academic founders in turning ideas into startups. The programme will pair experienced DeepTech and life sciences entrepreneurs—many with successful exits—with university researchers and promising IP. This approach aims to create more high-quality spinouts and speed up the path to market.

The EIR programme will support up to six entrepreneurs at a time and complements other recent efforts by the university to boost startup creation. These include the Founders programme to help academics launch businesses, the Technology Investment Fund (TIF) to de-risk early-stage research, and a €34 million boost to the €115 million Cambridge Enterprise Ventures (CEV) fund to expand university-backed investments.

Startups formed through the EIR programme will have access to CIC’s new funding to grow from early ideas to proof-of-concept and beyond.

The programme builds on the success of past spinouts like Riverlane, a quantum computing firm that has raised over €105 million; T-Therapeutics, focused on next-gen T cell therapies; and Cambridge GaN Devices, which develops energy-efficient power electronics and has raised more than €43 million.

This initiative is part of a broader push by the university to unlock commercial value from its research. Other recent developments include plans for 4 million sq. ft of high-tech space at Cambridge West and a new Innovation Hub in central Cambridge to support spinouts, startups, and entrepreneurs.

About Cambridge Innovation Capital

Cambridge Innovation Capital (CIC) invests in breakthrough life sciences and DeepTech companies linked to the University of Cambridge. Managing over £500 million, CIC has backed 30+ ventures across AI, quantum tech, medtech, digital health, and more—leveraging unmatched access to Europe’s top innovation ecosystem.