Bristol-based Science Creates Ventures has secured £15m in funding from British Business Investment’s Regional Angels Programme.
Science Creates Ventures invests in UK deep tech companies in the health and environment sector. It typically supports companies from the pre-seed stage to Series A.
UK corporate investment funds will largely be invested alongside VC Fund 2, with the remainder going into the existing Fund 1.
“We are delighted to be supported by British Business Investments for our mission to help scientists step outside the lab to deliver solutions to the world’s most pressing problems,” said Harry Destecroix, Managing Partner of Science Creates Ventures.
“We believe there is a huge amount of untapped potential in universities across the UK and, with the support of SCV and the wider Science Creates ecosystem, we believe we can help unlock this potential,” added Destecroix.
SCV is the investment arm of Science Creates, which runs two incubators aimed at deep tech entrepreneurs, providing them with lab space and support.
Science Creates incubator graduate and Bath University spin-out Transdermal Diagnostics recently secured £1.1m for its needle-free blood monitoring ‘smart patch’.
British Business Investments is a branch of the British Business Bank, which is backed by the UK government.