Lawyer Monthly - July 2022

Acted as Legal Adviser to Cambridge Innovation Capital Lawyer Monthly Transaction Reports - Funds & Investments 78 WWW.LAWYER-MONTHLY.COM JUL 2022 ABOUT THE DEAL Fried, Frank, Harris, Shriver & Jacobson LLP (Fried Frank) acted as counsel to Cambridge Innovation Capital on its latest multi-million-pound fundraising round. Cambridge Innovation Capital (CIC) is a venture capital investor with a focus on deep tech and life science businesses with roots in the University of Cambridge or the wider Cambridge network. It has now successfully closed its second fund (Fund II) and raised £225 million. Fund II was oversubscribed, with investors drawn from a geographically widespread group of around 50 institutional and strategic investors. Almost half of the capital raised was put forward by UK-based investors. With the completion of Fund II, CIC now manages upwards of £500 million, endowing it with greater means to support its portfolio companies throughout their life cycles. CIC has invested in 40 deep tech and life sciences companies to date, with Fund II already having made six investments. The Fried Frank team was led by corporate partners SamWilson and Kate Downey and comprised partners Gregg Beechey (regulatory), Michelle B Gold (tax), Nick Thornton (tax) and Kathryn Cecil (finance), as well as associates Ethan Chionh (corporate), Nicholas Sullivan (corporate), Joanna D Rosenberg (regulatory), Zac MellorClark (regulatory), Nishkaam Paul (regulatory), David Federgrun (tax) and Thomas Bramall (tax). The team was also supported by Pritha Sordi. April 2022 Cambridge Innovation Capital’s £225 Million Fundraising

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