IQ Capital Raises £320 Million to Invest in Deep Tech Startups

Insider Summary

• IQ Capital has managed to raise $400 million (£320 million) from two funds.
• The company is a venture capital firm focused on deep technology with offices in London and Cambridge.
• IQ Capital is an investor in the quantum space. They are one of the supporters of Nu Quantum.

IQ Capital, a deep technology-focused venture capital firm with offices in London and Cambridge, has raised $400 million (£320 million) through two funds to further invest in the sector, UK Tech News (UKTN) reports.

The company reached a final close of $200 million (£160 million) for its fourth fund and launched a second growth fund of the same size.

It’s likely that quantum startups will be among the deep mix of tech companies that could receive a financial boost from the fund. IQ Capital is an investor in Nu Quantum, according to The Quantum Insider’s Intelligence Platform.

Max Bautin, managing partner and co-founder of IQ Capital, highlights significant opportunities in deep technologies, including quantum. He also mentioned other target technologies including “new AI” models for new energy and climate solutions, robotics and space technology and synthetic biology.

IQ Capital now boasts a total of over $1 billion in assets under management.

Kerry Baldwin, managing partner and co-founder of IQ Capital, emphasized the importance of immersive technologies in driving global technological advancement, telling UKTN, “Deep technologies will play an important role as the UK and Europe continue to lead the way in developing technologies that will have a lasting global impact. .”

The venture capital firm is primarily investing in seeds to start the Series A stage in the UK and Europe. The newly launched growth fund aims to support startups at various stages and has allocated up to $30 million for investment in companies looking to expand internationally.

IQ Capital has made important investments, including protein-generative AI startup DreamFold, which received financing from a fourth-company fund. Among its alumni investments are Grapeshot (acquired by Oracle), Bloomsbury AI (acquired by Facebook), and Phonetic Arts (acquired by Google). The company’s portfolio also features companies such as TOffeeAM, a 3D printing software startup, and Nyobolt, a Cambridge-based maker of battery technology.

Funding for IQ Capital’s fourth fund came from a variety of sources, including British Patient Capital, institutions, funds of funds, family offices, companies and entrepreneurs.