In the dynamic realm of deep tech venture capital, Bristol-based SCVC emerges as a rising star. This early-stage investor, focusing its bets on the transformative spectrum from biotech to quantum tech, has just announced the successful initial closing of its second fund, set to reach up to $100 million. The mission is clear: nurture cutting-edge innovation and empower visionary scientists to become founders.
SCVC's formidable second fund is primed to fortify the core strategy and expertise of its dynamic team. The venture capital firm has its sights set on providing essential support to early-stage startups, injecting vital funding ranging from $500,000 to $3 million during pre-seed and seed rounds. Moreover, it seeks to be the catalyst for these innovators' growth, offering follow-on investments of up to $7 million in Series A rounds for top-performing companies.
Already, SCVC's second fund has unveiled its inaugural investment, pledging support to VyperCore, a trailblazing RISC-V startup. VyperCore is on a mission to revolutionize processor technology, promising unprecedented leaps in both performance and security.
But the journey doesn't end here. SCVC is poised to unveil another game-changing investment, this time in a startup pioneering a groundbreaking gene therapy platform. This platform holds the promise of delivering hope and treatment for some of the world's most devastating genetic diseases.
SCVC's Managing Partner and Co-Founder, Harry Destecroix, outlined the firm's mission, stating, "Our goal has been to build the venture firm we wished we had as founders. We give deep tech startups access to bespoke technical and business expertise, as well as capital. 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."
To bolster its already formidable team, SCVC has enlisted the expertise of John Williams, an exited founder renowned for his technical acumen. Williams, the mastermind behind Kudan, a UK-Japanese firm specializing in artificial perception technology, joins as the venture partner. Kudan made waves with its spectacular listing on the Tokyo Stock Exchange in 2018.
Destecroix expressed his excitement, noting, "We’re thrilled to have John on board. He strengthens our domain expertise in hardware and AI and fits SCVC’s thesis of welcoming exited deep tech founders turned investors. His input will be a huge asset for the firm and our portfolio companies."
Founded by Dr. Harry Destecroix and Jon Craton, deep tech entrepreneurs with notable exits, SCVC represents a beacon of innovation in the South West. The firm, born from the shared vision of these tech visionaries, is not only the first deep tech VC firm in the region but also the official VC arm of the deep tech ecosystem, Science Creates.
SCVC's initial $17 million seed fund, a testament to its unwavering commitment to pioneering innovation, has already supported 12 groundbreaking companies. These startups span an array of transformative technologies, from therapeutics and diagnostics to quantum sensors and semiconductors. Notable investments include Delta g, spearheading quantum gravity sensors, and Isomab, a pre-clinical stage biotech poised to revolutionize treatment for Peripheral Vascular Disease.