Epidarex Capital announces that it has successfully closed the Capital fund III – one of Riyadh Valley Company investments – at £102.1 Million. The Fund will build new life science companies based on world-class research and innovation from emerging hubs across the UK, including spinouts from highly regarded universities.
The new Fund has been cornerstoned by the British Business Bank via a £50 million commitment from its Enterprise Capital Funds (ECF) programme for early stage venture capital. In addition to the British Business Bank, the Universities of Edinburgh, Manchester, and several global investors have committed capital to the new Fund.
Ken Cooper, Managing Director, Venture Capital Solutions at the British Business Bank, said: “We know that equity finance is crucial for innovative life science and health technology businesses. And by supporting Epidarex Capital III UK, we are looking to ensure the successful financing of early stage, high-potential businesses that are built upon cutting-edge UK Life science research. We are very pleased to be backing the new UK fund, which itself represents an important milestone as our largest ECF fund to date and the first dedicated to investment in life science.”
Epidarex is a transatlantic early stage investor in under‐ventured markets focusing on highly innovative companies within the Life Sciences & Healthcare industry, which consists of four subsectors: Pharmaceuticals, Biotechnology, Medical Devices and IT, Software & Services.
Riyadh Valley Company– The investment arm of King Saud University – invest in Fund III of the UK Epidarex Capital to forge strategic partnerships with international experts, invest in knowledge companies locally and internationally, and build a balanced investment portfolio that supports King Saud University goals and contributes to the economic development of the Kingdom of Saudi Arabia.