23 November 2017

Patient Capital Review response

 

Cambridge Innovation Capital plc (CIC), a Cambridge-based builder of technology and healthcare companies, acknowledges the publication of HM Treasury's consultation response paper on 'Financing Growth in Innovative Firms'.  It forms part of the Government's Patient Capital Review and provides further detail on the initiatives for knowledge-intensive firms outlined in the 2017 Budget by the Chancellor of the Exchequer.

“We welcome the publication of ‘Financing Growth in Innovative Firms’. Its conclusions further strengthen and affirm the UK as a place for growing innovative firms which look to obtain the long-term ‘patient’ finance that is required to scale up companies efficiently. It builds on current best practices and seeks to address some of the shortfalls currently seen in this market. “While CIC has successfully raised £125 million to date from a range of supportive, long-term investors, there is still plenty of capacity for further capital to fund the excellent ideas that we continue to see within the Cambridge Cluster. Though CIC focuses on the area in and around Cambridge, we believe that a similar imbalance between supply and demand for patient scale up capital exists elsewhere in the country. The businesses that we, and others like us, support have the potential to be the future industrial powerhouses of the UK if encouraged to grow and mature properly.”

Victor Christou

CEO

ENDS

 

For more information, please contact:

Cambridge Innovation Capital

Victor Christou, CEO

Louise Rich, Head of Investor Relations and Communications

 

+44 (0)1223 764875

 

Consilium Strategic Communications (City, financial PR)

Mary-Jane Elliott

Ivar Milligan

Lindsey Neville

 

+44 (0)20 3709 5700

CIC@consilium-comms.com

 

Holdsworth Associates (local and trade PR)

Rachel Holdsworth

 

+44 (0)1954 202789

Rachel@holdsworth-associates.co.uk

     

 

About Cambridge Innovation Capital

CIC combines a unique relationship with the University of Cambridge with deep financial and industry links to support rapidly growing intellectual property rich companies in the Cambridge Cluster. The company is committed to building leading businesses from brilliant technologies, with the benefit of some of the most influential figures in the sector and a patient capital structure.

For more information visit www.cicplc.co.uk or follow @CambsInnovation


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