UCL Technology Fund announces first close of £100m Fund 2

UCL Technology Fund (UCLTF), managed by AlbionVC in collaboration with UCL Business (UCLB) (the university's commercialisation company and part of UCL Innovation & Enterprise), announces first close of a £100m target Fund 2. The new fund will continue to support UCL in achieving the full potential of innovations that have prospects for outstanding societal impact and commercial return. Fund 2 has commitments from a combination of existing and new Limited Partners, including cornerstone commitments from British Patient Capital, the largest UK-based LP investor in venture capital, and UCL itself.  The fund's purpose is to bring UCL's academic research in life, computer and physical sciences to commercial reality. UCL is consistently ranked among the top 10 universities in the world and one of only a handful of institutions rated as having the strongest academic reputation and the broadest research impact. The second fund has an immediate pipeline of opportunities with world-renowned UCL academic researchers. In the life sciences these include innovative preclinical and clinical projects and spinouts. Based on pioneering gene therapy, cell therapy and drug discovery approaches, they are targeting a variety of indications with a global unmet need, including rare diseases, cancer and ophthalmology.