Cambridge Innovation Capital has released the numbers for its performance during the first half of the financial year, boasting a rise in its portfolio's fair value to $116m.

Cambridge Innovation Capital (CIC), the patient capital fund affiliated with University of Cambridge, on Friday revealed the fair value of its portfolio has increased to £86m ($116m) during the first half of the financial year. CIC, which announced the figures for the period ending September 30, noted that the value was up from £58.2m as of the end of March. Its portfolio additions include Bicycle Therapeutics, which raised $52m in a series B round in June, and Prowler.io, which obtained $13m in series A funding in September. CIC has injected a total of £22.7m of capital in companies – including eight existing ones – during the period, up from £8.1m in 2016. To date, CIC has invested £72.3m in 21 companies, up from £49.7m and 19 companies as of the end of the previous financial year. Victor Christou, CEO of CIC, commented: “This has been another period of significant growth. We have continued to enhance our presence in the Cambridge cluster and have taken steps to increase our operational activities to develop both the cluster and our rapidly growing portfolio. “The breadth of world-leading science being developed into exciting businesses around Cambridge continues at an increasing rate and we believe that CIC is better placed than ever to identify and support these businesses as they grow. “Since the period end, we have seen further support from the UK Government through the patient capital review, enabling greater scale-up capital for the businesses that the Cambridge area produces so well. We look forward to continuing this success into 2018.”

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