New investors include hedge fund Winton Ventures, state-backed Oman Investment Fund and fund manager Woodford Investment Management.

Cambridge Innovation Capital (CIC), a university venturing fund commercialises science and technology advances made at Cambridge University, has raised £75m ($90m).

New investors include heege fund Winton Ventures, state-backed Oman Investment Fund and fund manager Woodford Investment Management. Cambridge University will remain the largest shareholder in CIC, owning about a third of the firm. The money tops up the original £50m investment from chip maker ARM and hedge fund Lansdowne Partners.

CIC has invested £33m in 13 technology startups in and around the Cambridge area. Victor Christou, CEO of CIC, said: “Since the inception of CIC and its initial fundraising in 2013, the company has made significant progress within the Cambridge cluster, one of the richest seams of scientific and technological innovation in the world. This additional capital will enable CIC to continue to support exciting [intellectual property] IP-rich companies and we look forward to continuing to work very closely with the University of Cambridge and our network within the Cambridge area.”