• $100m fund for pre-seed through to series A investments to support category-defining deep tech innovation
• Follows the success of SCVC’s first $17m seed fund in 2021
• Fund capital already deployed in processor technology start-up VyperCore
• SCVC appoints exited founder John Williams as Venture Partner

SCVC, the early-stage deep tech VC, has announced the first close of its second fund, with a target of up to $100 million.

The Bristol-based firm, which invests in advanced technologies to improve the health of people and the planet – from biotech to quantum tech – has emerged as a leading early-stage deep tech investor since its inception in 2020, backing some of the UK’s most exciting start-ups, including Delta g, Scarlet Therapeutics and Isomab.

The new fund builds on the team’s core strategy and expertise, investing at pre-seed and seed stage with initial cheque sizes of $500k up to $3m. It will also provide follow-on funding of Series A tickets up to $7m for top-performing companies.

The fund’s first investment has already been announced. VyperCore is a RISC-V start-up developing modified processors that promise a massive step change in performance and security. And SCVC will soon be announcing another investment into a start-up pioneering a new gene therapy platform that offers treatment hope for some of the world’s most devastating genetic diseases.

SCVC was co-founded by Dr. Harry Destecroix and Jon Craton, two exited deep tech entrepreneurs from the South West. The pair met while angel investing and joined forces to create the first deep tech VC firm based in the region and the official VC arm of deep tech ecosystem Science Creates.

Managing Partner Destecroix commented: “Our goal has been to build the venture firm we wished we had as founders. We give deep tech start-ups access to bespoke technical and business expertise, as well as capital.

“Our portfolio is united by category-defining innovation driven by world-class founders, and the new fund allows us to double down on our mission and enable more scientists to become founders and turn their discoveries into inventions.”

SCVC’s first $17m seed fund has backed 12 companies working on everything from therapeutics and diagnostics to quantum sensors and semiconductors. Recent investments include Delta g, which is pioneering a new generation of quantum gravity sensors, and Isomab, a pre-clinical stage biotech developing a breakthrough treatment for Peripheral Vascular Disease.

Destecroix added: “We believe the next decade will yield the most important industrial revolution in history. The gap between hardware and biology is vanishing and unlocking an enormous untapped dataset of our own biology. Combined with AI, this gives us a once-in-a-generation investment opportunity to build high-impact technology companies.”

SCVC is also bringing on added expertise to support the existing team, with John Williams joining as the firm’s first Venture Partner. Bristol-based founder Williams is the technical brains behind Kudan, the UK-Japanese company focused on software for artificial perception technologies, which enjoyed a spectacular listing on the Tokyo Stock Exchange in 2018.

Destecroix commented: “We’re thrilled to have John on board. He strengthens our domain expertise in hardware and AI and fits SCVC’s thesis of welcoming exited deep tech founders turned investors. His input will be a huge asset for the firm and our portfolio companies.”    

*ends*

About SCVC

SCVC is a specialist early-stage investor in UK deep tech companies and the official VC arm of Science Creates. We invest in advanced technologies from biotech to quantum tech, partnering with companies aligned with our mission of improving the health of people and the health of our planet. We’re a team of deep tech nerds and serial entrepreneurs that backs like-minded founders wanting to change the world.

Find us at www.SCVC.com.

This marketing message is issued by Science Creates Ventures LLP (t/a SCVC)  FRN:933134, an Appointed Representative of Kin Capital Partners LLP FRN:656789, an AIFM as defined by the AIFMD. This material is directed only at persons in the UK and is not an offer to buy or sell securities; it does not constitute a Financial Promotion. Applications for investment may only be made on the basis of the relevant Limited Partnership Agreement and application form, copies of which are available on request. No reliance is to be placed on the information contained in this document in making such an application.