London investors raise $400 million for deep tech AI and robotics company

Monday, June 5, 2023 9:52 a.m.

IQ Capital considers $400 million investment in deep tech startups across areas such as AI and robotics

London-based venture investor IQ Capital today announced £322 million (400 million accumulated dollars).

The new capital was raised in two funds: a $200 million growth fund focused on late-stage companies and a fourth $200 million venture fund.

IQ Capital executives said the new funding will be poured into a wide range of deep tech startups, defined as companies that leverage scientific research and unique intellectual property to create technology, in both Europe and the UK.

Kelly Baldwin, co-founder of the company and former chair of the British Private Equity and Venture Capital Association (BVCA), said in a statement that deep tech companies play a vital role as the UK and Europe “continue to lead the world.” It will play a role.” It’s a way to develop technology that has a lasting impact on the world. ”

“As deep technology investments are at the forefront of investor interest, topping $17 billion in 2022, IQ Capital is rich in intellectual property with the potential to dominate a large global market. “We support innovative technology,” she added.

The new funds include “global institutions,” funds of funds, family offices, corporations, high-tech entrepreneurs and British Patient Capital, the largest government-backed limited partner investor, the report said. It has been sourced from a wide range of global backers. At British Venture Capital.

The new funding comes amid a scramble in recent months for venture capital investors to back deep tech companies involved in artificial intelligence. Investor interest is increasing with the announcement of a hot new technology by US company OpenAI and his ChatGPT.

IQ Capital’s Max Bautin said deep tech companies could have a “transformational impact” in the coming years.

“Breakthroughs in ‘new AI’ models, new energy and climate, robotics and space technology, quantum computing, and synthetic biology all demonstrate what significant opportunities deep technologies currently present. ” he added.

IQ Capital was founded in 2007, and its team currently backs more than 100 deep tech startups and has cumulatively secured more than $1.4 billion in follow-on capital in its portfolio.

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