Bristol venture capitalists close $100 million deep tech fund

Published by

Peter Davison

Dr Harry Destecroix

SCVC, the investment arm of Bristol-based deep tech ecosystem Science Creates, has closed its second deep tech venture capital fund.

Founded by Dr Harry Destecroix (pictured) – the founder of Bristol University boitech spinout Ziylo – and Jon Craton, SCVC provides early-stage investment to companies creating advanced technologies to improve the health of people and the planet – from biotech to quantum tech.

With the new fund, the plan is to continue to invest at pre-seed and seed stage, with investments ranging from $500,000 to $3 million. There will also be Series A follow-on funding available for top-performing companies, of up to $7 million.

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Harry Destecroix said: "An enormous thank you to the SCVC team, our investors, our advisors and SCVC portfolio companies, without whom nothing would be possible.

"This milestone accelerates SCVC, and the whole Science Creates ecosystem on its mission of empowering more scientists to become founders so they can advance the health of people and the planet."

Peter Davison

Peter Davison is deputy editor of The Business Magazine. He has spent his life in journalism – doing work experience in newsrooms in and around Bristol while still at school, and landing his first job on a local newspaper aged 19. By 28 he was the youngest newspaper editor in the country. An early advocate of online news, he spent the first years of the 2000s telling his bosses that the internet posed both the biggest opportunity and greatest threat to the newspaper industry and the art of journalism. He was right on both counts. Since 2006 he has enjoyed a career as a freelance journalist. He lives in rural Wiltshire with one wife, two children, and three cats.