QUBIS launches £1.2m fund tol provide early-stage capital for university spin-out and start-up companies.
The QUBIS Innovation Fund has been established specifically for university spin-out and start-up companies operating in the UK’s fastest growing sectors.
The objective of the Innovation Fund is to enable more efficient deal closing for high potential companies through co-investment with aligned partners.
Investments will qualify for SEIS and / or EIS tax relief (Seed Enterprise Investment Scheme and / or Enterprise Investment Scheme ), helping to incentivise investors to back these early-stage ventures.
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QUBIS is the commercialisation and investment arm of Queen’s University Belfast.
Queen’s have created 100 science and technology spin-outs, generating £323m in annual revenue and 3,100 jobs. Many of Northern Ireland’s companies such as Kainos Group Plc and Fusion Antibodies Plc are from the QUBIS portfolio.
QUBIS say that supporting the next generation of successful innovative spin-outs and start-ups will be key to economic recovery and the UK’s levelling up agenda. A strong pipeline of investment opportunities is being delivered through commercialisation support programmes such as Innovate UK’s ICURe, supported by a network of experienced entrepreneurs and advisors.
Brian McCaul, CEO of QUBIS and Director of Innovation at Queen’s University Belfast commented: “The Innovation Fund will build on the great work already done to stimulate more angel and VC investment in the sector, working in partnership with other funders to help realise the potential of these innovative companies.”
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The fund will be managed by Sapphire Capital Partners LLP, an investment manager based in London and Belfast which specialises in SEIS and EIS funds, working with QUBIS as the portfolio mentor.
Boyd Carson, Partner at Sapphire Capital said: “It is extremely positive for the economic outlook of Northern Ireland to have an exclusively private venture capital Fund dedicated to supporting ground-breaking innovation. The Fund marks the start of an exciting time for venture capital investment in Northern Ireland and we hope that further Funds will follow.”
The new fund is expected to make investments of between £50,000 and £150,000.
Source: Written from press release.
