IQ Capital, a Cambridge and London, UK-based deep-tech venture capital firm, has announced the raise of two funds.
In details, the firm:
– launched a new $125m Growth Opportunities Fund, and
– closed its third venture fund, IQ Capital Fund III, at $175m.
The $125m Growth Opportunities Fund will provide later-stage capital to outperforming companies in their existing venture portfolio. Privitar, the global leader in data privacy engineering which IQ Capital supported since seed stage, is the first investment from the new fund, as part of the $40m Series B funding round.
In addition, its third venture fund, significantly oversubscribed by National Grid Partners, British Patient Capital and a number of other global institutions, focuses on investing into companies at Seed and Series A stage. In the last year, IQ Capital has invested in 12 companies, including Causalens, Concirrus, and Iotic. These early-stage startups will join Fund II scale-ups Thought Machine, Fluidic Analytics, Paragraf, and Speechmatics, driving portfolio enterprise value to more than $1.2 billion today.
Led by Max Bautin, Ed Stacey, and Kerry Baldwin, IQ Capital is a venture capital firm that invests in ‘deep-tech’ across sectors including machine learning, AI, robotics, and advanced engineering and materials, and data-focused propositions based on disruptive algorithms. Initial investments range from £300k to £5m, with capacity for follow-on investment up to £30m.