The university-focused impact investor has acquired venture capital firm Midven to strengthen its access to scientific research in the UK.

Future Planet Capital, a UK-based venture capital firm focused on university spinouts and startups, acquired its local peer Midven today.

Financial terms were not disclosed. Midven manages the British government-backed UK Innovation and Science Seed Fund (UKI2S) and MEIF West Midlands Growth Fund, a vehicle under British Business Bank’s Midlands Engine Investment Fund.

Future Planet Capital’s network already includes University of California, Berkeley, Massachusetts Institute of Technology, Indian Institute of Technology Delhi, Tel Aviv University, Stanford University, Harvard University, University of Cambridge and University of Oxford.

The firm also has an ongoing partnership with Global University Venturing, having hosted annual pitches and Future Planet Awards at our conferences for several years.

Future Planet Capital’s recent investments include Vaccitech, the University of Oxford vaccine development spinout that closed a $168m series B round last month following the rollout of the Oxford/AstraZeneca vaccine.

Douglas Hansen-Luke, executive chairman of Future Planet Capital, said: “Midven’s exceptional 30-year track record, its strong capital base and the UKI2S Fund’s close relationship with some of Britain’s top research establishments will offer our investors, stakeholders and our portfolio companies greater opportunities.

“By incorporating Midven, Future Planet Capital will become an important player in the UK’s impact and university venture industry, with more reach, more investors and more capital to invest in companies working to tackle global challenges.

“The UK is the world’s third most successful economy for innovation output and the ideal location to build a global impact fund.”