Spinout tech firms could see a funding boost as the investment arm insurance giant Aviva injects £15m into Oxford Science Enterprises.
Oxford Science Enterprises, which invests in spinout companies via a partnership with the University of Oxford, will use the new capital to finance local startups as the government ramps up ambitions for growth in the Oxford-Cambridge corridor.
“Our strategic partnership with OSE is a further example of our investment philosophy and commitment to support innovative high-growth science and technology companies in the Oxford-Cambridge growth corridor that are helping the UK get ready for the future,” said Ben Luckett, managing director of venture and strategic capital at Aviva Investors.
“For investors prepared to commit long-term capital as these companies scale up, these partnerships are crucial to maximising the potential for investment returns and our ability to deliver strong outcomes to our clients and, ultimately, savers.”
Alongside Aviva Investors backing of the spinout fund, the group will also invest £6.6m into Alloyed, a portfolio company of Oxford Science Enterprises that specialises in designing and manufacturing advanced alloys for high performance metallic components.
Luckett added: “This investment in Alloyed highlights the value of forming these partnerships with university-affiliated funds and how they can provide direct access to attractive and IP-rich university spinouts at the growth stage.”
Founded in 2015, Oxford Science Enterprises has raised over £850m from more than 300 strategic partners and has deployed more than £2.5bn across a portfolio of over 100 spinouts including Oxford Quantum Circuits, Amber Therapeutics and Base Genomics.
Read more: OSE raises £250m to back University of Oxford deeptech spinouts
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