Cambridge Innovation Capital has released its annual results, celebrating a 46% increase in net asset value and its first IPO exit.
Cambridge Innovation Capital (CIC), the patient capital fund aligned with University of Cambridge, released its annual statement on Monday for the year ended March 31, 2020, celebrating a range of key successes.
The fund’s portfolio now consists of 30 companies and net assets have grown by 46% to more than £301m ($377m), equating to a fair value increase of $87m and, together with investments, a portfolio value of $365m – up from $243m for the previous period.
CIC invested $44.6m* in portfolio companies, down from $58.5m* during the 2018-19 financial year. The money went into four new and 12 existing portfolio businesses, pushing the total invested by CIC to $204m*.
CIC further noted it had now drawn down $53.2m* from the $196m additional commitment secured in March 2019.
The four new additions to CIC’s portfolio include Riverlane, a quantum computing software developer spun…
Thierry Heles
Thierry Heles is the editor of Global University Venturing, host of the Beyond the Breakthrough interview podcast and responsible for the monthly GUV Gazette (sign up here for free).
