NCL Technology Ventures launches £50m fund

Nicole Tovstiga
13 March 2018

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London-based NCL Technology Ventures’ latest fund, which is backed by Kent County Council, plans to invest £50m in venture capital in the UK’s life sciences sector.

The Kent Life Science Fund is the second vehicle launched by NCL and will work in partnership with the Institute of Pharmaceutical Science, King's College London and the University of Kent, alongside the NHS and private healthcare trusts.

The fund will invest in high-growth small and medium-sized enterprises, with a focus on medical technologies and therapeutics. It aims to attract companies looking to establish a UK operating base as part of global expansion plans.

Predecessor Discovery Park Fund, the group's debut vehicle, invested £5m in eight small UK-based businesses that have operations at NCL's pharmaceutical facility at Discovery Park, Kent.

NCL started in 2010 as Narec Capital, a joint venture with the UK's National Renewable Energy Centre. Its primary purpose was to commercialise intellectual property that came through the centre. After five years of operation, NCL expanded its offering to cover the wider technology market on a thematic basis.