Oxford Sciences Innovation has completed the second close of its fundraising, raising an additional €157.3M (£110M) and bringing the total amount raised to €457.6M (£320M). This second close included some well-known investors such as Google Ventures and Charles Dunstone.
Being backed by one of the best-recognized institutions in the world has its advantages. Oxford University and Isis Innovation, the University’s tech commercialization subsidiary, have been working side by side with Oxford Sciences Innovation (OSI) thanks to a 15-year agreement. OSI will finance and develop spin-out companies from the leading university, with a special focus on life science businesses.
The first fundraising round already attracted some big shots of the investment world, such as Wellcome Trust, Woodford’s fund, Invesco and IP Group. Google Ventures, the giant’s new investment fund, also joined the list, helping OSI to raise a total amount of €457.6M.
The firm, that was targeting €429M, easily oversubscribed the round and now it is believed to be the world’s largest fund of its kind.
The intense research activity in Oxford University has led to the creation of hundreds of spinouts in the past 15 years,