Cambridge Innovation Capital has hauled in $1.3bn for the local ecosystem since 2013 as the fund marks a $52.2m portfolio gain for its latest six-month reporting period.
Cambridge Innovation Capital (CIC), the university’s affiliate patient capital fund, has helped local businesses attract a total of £1bn ($1.3bn) in investment since the initiative was founded in 2013.
The milestone was reached as CIC’s portfolio gained $52.2m in net fair value terms over the six months to September 30, 2019, bringing its overall worth to about $309m from $243m at the beginning of the period.
The fund equipped 14 portfolio companies with $28.1m over the six months, including three new investments, to make it $185m supplied to 29 businesses altogether over its lifespan.
Including active commitments, CIC’s cash resources amounted to $132m at the end of the period, although a direct comparison was not provided.
Half-year highlights included the portfolio additions of quantum computing spinout Riverlane along with molecule diagnostics-focused developer Sense Biodetection and autoimmune disease prognostics company PredictImmune.
CIC also backed a $240m series C round for surgical robotics developer CMR Surgical in September 2019, a $32.6m series B for insurance tech spinout Cytora in April 2019 and a $24m series B for artificial intelligence forecasting business Prowler.io in May 2019.
