EMV Capital, the VC investor specialising in high-growth deep tech and life sciences companies, has been appointed as investment manager of Cambridge-based seed-stage VC investor, Martlet Capital.  

EMV Capital will manage, on a discretionary basis, Martlet Capital’s £23.3 million portfolio of investments across 53 companies within the deep tech and life sciences sectors. 

In addition, EMV Capital has acquired the operational VC business of Martlet Capital (excluding its investment portfolio).

EMV Capital and its parent company, NetScientific PLC, invested in the initial fundraising rounds of Martlet Capital in 2021. 

Over the last decade, Martlet has achieved several significant exits including Unicorn Abcam (IPO), Audio Analytic (sold to Meta), Cambridge CMOS Sensors (acquired by AMS) and Arachnys (acquired by AML RightSource).

Its current portfolio includes Paragraf, behind graphene-based electronic devices; Nu Quantum, scaling quantum computers; and Xampla, looking to eliminate plastic pollution.

EMV is currently managing £26.1m of capital under advisory. It said it intends to leverage the Martlet brand by means of exploring investor appetite for the proposed launch of two new Martlet funds.

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“This transaction represents an important milestone for EMV Capital and the NetScientific PLC group, aligned with our objectives to become a leading deep tech and life sciences venture capital investor in the UK and Europe,” said Dr Ilian Iliev, MD of EMV Capital. 

“Robert and his team have created a respected brand within the world-class Cambridge high-tech investment cluster. This is a logical next step in the deepening relationship between our organisations following our initial investment in 2021. 

“This important fund management mandate and acquisition of the Martlet business significantly increases the fee income and critical mass of our funds practice. We also gain ‘work in progress’ for the potential launch of two further funds under the Martlet brand and a supportive Martlet investor base.

“I thank Robert Marshall and the broader Martlet team for their collaborative approach in executing this carefully balanced transaction. Independently, EMV Capital has a long history in Cambridge, and I look forward to our work together to deliver returns for Martlet Capital shareholders and EMV Capital, and to further leverage and grow the Martlet brand.”

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