The fresh capital, anchored by University of Cambridge and its Endowment Fund, will enable patient capital-orientated vehicle Cambridge Innovation Capital to make new bets and sustain investments in its existing portfolio.

Cambridge Innovation Capital (CIC), the patient capital fund set up by University of Cambridge, has­­ closed £150m ($196m) in funding, bringing its total corpus to $360m.
The funding was anchored by the university and its Endowment Fund, and was described by the fund as one of the largest private financing rounds held in Europe in 2019 so far.
CIC was formed in 2013 with $85.5m of capital to further the commercialisation of science and technology advances made by University of Cambridge researchers, as well as concepts drawn from the wider regional ecosystem.
The latest funding will allow CIC to capitalise on additional investment opportunities, and to fund an existing portfolio of 25 businesses that include big data analytics spinout GeoSpock and video content management software developer Imagen, as well as biotech developers such as oncology genomics spinout Inivata, which closed a $52.2m series B round with CIC support last week.
CIC raised $90m in a 2016 round that allowed the university to remain its largest shareholder while adding contributions from investors including the government-backed Oman Investment Fund, fund manager Woodford Investment Management and hedge fund Winton Ventures.
Since 2013, CIC has invested more than $163m in fields including surgical robotics, flexible electronics, microbiome science, genomic diagnosis, automated decision making and edge intelligence.
The vehicle booked a $25.9m fair value portfolio gain for the financial year ending March 2018, having injected $27.7m of capital into 22 businesses during the period.
Victor Christou, the chief executive of CIC who was listed at number 12 in the 2018 GUV Powerlist, said: “We are delighted by the support CIC has received from our existing shareholders and new investors in this financing round.
“Our relationship with the University of Cambridge, including our privileged position as a preferred investor for the university, goes from strength to strength. We look forward to continuing to work with both the university and our wider network in the Cambridge area.”