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IQ Capital raises $400m for deep tech VC fund

IQ Capital, a London-based deep tech venture capital firm, has held the final close of its fourth fund (Fund IV), which will focus on seed and series A investments in UK and European startups, at $200 million, taking its assets under management to more than $1 billion. 

IQ Capital, a London-based deep tech venture capital firm, has held the final close of its fourth fund (Fund IV), which will focus on seed and series A investments in UK and European startups, at $200 million, taking its assets under management to more than $1 billion. 

The firm has also launched its second $200 million growth fund to provide later-stage funding to outperforming companies, primarily in its venture portfolios. This enables IQ Capital to deploy capital at multiple stages, investing an additional $30m in individual companies as they internationalise. 

IQ Capital will continue to invest at Seed and Series A into UK and European startups to commercialise IP-rich breakthrough technologies, and back founders with the ambition to scale globally.

Fund IV will build on the success of IQ Capital’s existing funds, which have achieved exits to Oracle, Google, Apple and Facebook– along with several high-profile IPOs – and has delivered industry-beating returns to investors. IQ Capital’s PhD-rich team has invested in over 100 deep-tech startups, attracting a further $1.4 billion follow-on capital to its portfolio and creating over 4,000 jobs in the deep tech space. 

Investors in Fund IV include global institutions, funds-of-funds, family offices, corporates and tech entrepreneurs of whom several were previously backed by IQ Capital, as well as British Patient Capital – the largest LP investing in UK venture capital. 

Fund IV has already made investments including: DreamFold, which uses Generative AI algorithms to predict the properties of therapeutic proteins; Risilience, a climate-risk platform providing the technology for multinational corporates to meet their net-zero objectives, which has gone on to raise a further $26 million, and Secretarium, which has pioneered confidential computing, developing the world’s first ‘trustless’ cloud computing infrastructure based on advanced cryptography using only standard hardware components.
 

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