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25 April 2022

M&G’s Catalyst backs UK academic innovation and impact through Cambridge Innovation Capital’s latest fund

2022
  • Fund supports life sciences and technology spinout companies from the University of Cambridge and the broader ecosystem

London, 25 April 2022 – M&G announces it has invested in the latest fund by Cambridge Innovation Capital (“CIC”), the venture capital investor focused on building world-leading deeptech and life sciences businesses connected with the Cambridge ecosystem.

CIC, a preferred investor for the University of Cambridge, supports portfolio companies throughout their life cycle by providing investment capital as well as strategic and operational support. The fund M&G has invested in has already made six investments, including Riverlane, a quantum computing software provider; Pretzel Therapeutics, a leading developer of mitochondrial therapeutics; and Epitopea, a cancer immunotherapeutics company.

The investment has been made by M&G’s Catalyst strategy, which is investing up to £5 billion into innovative privately-owned global businesses working to create a more sustainable world. This marks the strategy’s latest investment in UK academic innovation and impact, following previous investments in Vaccitech and Oxford Nanopore Technologies, among others.

Alex Seddon, Head of M&G’s Catalyst Team, comments: “The Cambridge ecosystem is home to cutting edge research in deeptech and life sciences and CIC has an established track record in supporting entrepreneurs to commercialise their businesses. Through our investment in this fund and wider investments Catalyst has made into academic spin outs, we are seeking to back innovative companies that will contribute towards creating a more sustainable world.”

Andrew Williamson, Managing Partner of Cambridge Innovation Capital, says: “Cambridge, UK is one of the fastest-growing science and technology innovation ecosystems in the world. Since our inception, CIC and our co-investors have invested more than £2 billion in sectors as diverse as robotics, semiconductors, genomics, gene therapy, therapeutics, liquid biopsy, artificial intelligence, and edge computing. We are delighted to launch our new fund and to work with a dynamic group of entrepreneurs and investors to capture the full potential within the thriving Cambridge ecosystem.”

Media enquiries

Irene Chambers

Media Relations

Notes to editors

The Catalyst investment strategy sits within the Private & Alternative Assets division at M&G. With over two decades of experience in private asset investment, M&G already manages over £71 billion in private credit, private equity and real estate on behalf of Prudential policyholders and external clients.

Drawing on this expertise and track record in private assets, Catalyst seeks opportunities across the globe to invest in unlisted businesses where capital is needed to drive innovation and impact.

Size of Private and Alternative Assets team (£71 billion), as at 31 December 2021.

Cambridge Innovation Capital (CIC) is a leading venture investor backing and building category-leading deep tech and life sciences companies. CIC currently manages in excess of £0.5 billion and has invested in around 40 companies. CIC is a preferred investor for the University of Cambridge, Europe’s top source of founders for venture-backed start-ups.

Cambridge Innovation Capital Manager Limited (FRN:918898) is authorised and regulated by the Financial Conduct Authority. For more information, please visit https://www.cic.vc or follow us on Twitter at @CIC_vc and LinkedIn.

M&G Investments is part of M&G plc, a savings and investment business which was formed in 2017 through the merger of Prudential plc’s UK and Europe savings and insurance operation and M&G, its wholly owned international investment manager. M&G plc listed as an independent company on the London Stock Exchange in October 2019 and has over £370 billion of assets under management (as at 31 December 2021). M&G plc has customers in the UK, Europe, the Americas and Asia, including individual savers and investors, life insurance policy holders and pension scheme members.

For nearly nine decades M&G Investments has been helping its customers to prosper by putting investments to work, which in turn creates jobs, homes and vital infrastructure in the real economy. Its investment solutions span equities, fixed income, multi asset, cash, private debt, infrastructure and real estate.

M&G recognises the importance of responsible investing and is a signatory to the United Nations Principles for Responsible Investment (UNPRI) and is a member of the Climate Bonds Initiative Partners Programme.

M&G plc has committed to achieve net zero carbon emissions on its total book of assets under management and administration by 2050 and committed to reduce operational carbon emissions as a corporate entity to net zero by 2030.


For more information, please visit: https://global.mandg.com/
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