The most active university-affiliated investors in the UK spin-out landscape
In the UK, investment into spin-outs has grown 240% over the past decade, reaching a record high of $3.35bn in 2024.
Spin-out companies are start-ups which commercialise intellectual property (IP) generated through a university’s research.
A combination of innovation culture, entrepreneurial talent, early stage capital and alumni networks create the ideal nurturing environment for high-growth ventures. Many of these startups are rooted in deep tech or scientific research, offering significant potential for market disruption.
The University of Cambridge continues to lead the way, securing 63 equity deals for its spin-outs in 2024, followed by the University of Oxford with 48, and Imperial College London with 28.
As the ecosystem matures, a number of university-backed funds have emerged as key players in nurturing and scaling these businesses. Here’s a snapshot of the most active university-affiliated investors in the UK spin-out landscape:
The UK’s top university affiliated funds:
- Cambridge innovation capital
Launched: 2013
Portfolio companies: 30 - Cambridge Enterprise Ventures
Launched: 1995
Companies in portfolio: 147 - University of Cambridge Enterprise Funds (Parkwalk Advisors)
Launched: 2012
Companies in portfolio: 65 - University of Oxford Innovation funds (Parkwalk Advisors)
Launched 2015
Companies in portfolio: 46 - Oxford Science Enterprises
Launched: 2015
Companies in portfolio: 75 - Northern Gritstone
Launched: 2021
Companies in portfolio: 27 - UCL Tech Fund
Launched: 2016
Companies in portfolio: 24 - Creator Fund
Launched: 2019
Companies in portfolio: 48 - University of Liverpool Enterprise Investment Fund
Launched 2018
Companies in portfolio: 20 - Old College Capital
Launched 2011
Companies in portfolio: 60
An incubated environment to promote growth involves not only funding, it also requires safety. Young companies need to be protected from curveballs which could distract founders from their mission or see hard-earned funding wasted on legal costs – or worse still, cause irreparable financial damage. Something as simple as a power cut on a freezer containing months of R&D biomaterials or a hacking attack which corrupts core code, or the threat of an intellectual property infringement lawsuit could stop a startup in its tracks.
Aguila is an independent specialist insurance broker headquartered in Cambridge, at the epicentre of UK innovation in “Silicon Fen”. We focus on the needs of high-growth businesses and university spin outs, helping founders to understand and manage their risks, keeping insurance costs tight and providing a safe environment for growth.
With offices in London, Cambridge, Brussels and New York, we’ve built a model that grows with you as you scale.