SCVC has announced the first close of its second fund targeting around £80 million.

Launched in 2020, the Bristol-based DeepTech investor’s intention from the outset has been to invest in pre-seed and seed-stage startups operating in tech areas such as quantum computing.

SCVC's previous fund was worth around £14 million and backed 12 companies, including underground mapping startup Delta g and sustainable material developer Kelpi.

“Our portfolio is united by category-defining innovation driven by world-class founders, and the new fund allows us to double down on our mission and enable more scientists to become founders and turn their discoveries into inventions,” said SCVC co-founder Harry Destecroix.

“We believe the next decade will yield the most important industrial revolution in history,” he added, stating his belief that the gap between hardware and biology is “vanishing and unlocking an enormous untapped dataset of our own biology”.

Fellow DeepTech investor NordicNinja, which is headquartered in Helsinki, Finland, recently announced a £172 million fund and plans to establish a base in London.

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