The universities of Edinburgh, Manchester, Glasgow and Aberdeen have all contributed to Epidarex’s latest fund, which will invest in life sciences spinouts.
UK-based venture capital firm Epidarex Capital today closed a fund of more than £102m ($127m) to invest in life sciences companies, including spinouts, across the UK.
The capital was supplied by the universities of Aberdeen, Edinburgh, Glasgow and Manchester, as well as government-owned British Business Bank, which made a $62m cornerstone investment through its Enterprise Capital Funds program, and pension scheme Strathclyde Pension Fund.
A range of undisclosed, international backers have also invested in the fund.
Epidarex Capital III will maintain the firm’s focus on the life sciences sector, targeting spinouts and companies from established and emerging research hubs. It plans to make typical initial commitments of $2.5m to $6.2m.
The fund has already made its first investment, co-leading a $3.5m series A round for Lunac Therapeutics, a UK-based anticoagulant drug discovery spinout of University of Leeds, in November 2019. The round was co-led by…
Thierry Heles
Thierry Heles is the editor of Global University Venturing, host of the Beyond the Breakthrough interview podcast and responsible for the monthly GUV Gazette (sign up here for free).
