London VC firm unveils $20m fund to back student ‘deeptech’ innovation
A London-based venture capital firm has unveiled a new $20m fund today to pump into so-called ‘deeptech’ projects emerging from universities across the UK and Europe.
Creator Fund, which specialises in early stage investment into Phd and student-led innovation, said it is now seeking out student-led projects in areas spanning AI, life sciences and quantum computing with the aim of supercharging their development.
Boss Jamie McFarlane said a transformation was underway at European universities which would put students at the forefront of innovation.
“The RnD and technology emerging from our labs and classrooms has the potential to fundamentally change and improve the way we live and work,” he said.
“Our primary goal at Creator Fund is to be there early on, helping truly innovative PhD students build tech businesses based on scientific discovery or engineering innovation.
Bosses said the fund’s aim was not to be the partner “any student founder from Stockholm to Zurich to Cambridge”.
Creator Fund’s 16 investments to date include technology that helps develop mutation-proof vaccines, electronic skin for robots, brainwave-reading software to control machines and self-flying drones.
The fresh fund has received cornerstone backing from startup accelerator Founders Factory and Lord Rumi Verjee
Lord Rumi Verjee, an anchor investor in Fund II, said the fund had tapped a niche in the market.
“Creator Fund is unique in its purpose and approach,” he said.
“It has proven itself as a formidable force in identifying early founder and investor talent and nurturing it.”