Empirical Ventures secures £10M from the British Business Bank to back UK ‘venture scientists

Empirical Ventures, which backs what it calls “venture scientists”, PhDs building deeptech companies across energy, materials, and life sciences, has received a fresh £10M commitment via the BBB’s Regional Angels Programme, taking total support to £15M.

Empirical Ventures, the Bristol-based deeptech fund co-founded by two scientists-turned-investors, has secured a £10 million commitment from the British Business Bank through its Regional Angels Programme, bringing the Bank’s total support for the firm to £15 million.

The first £5 million was committed in April 2024. The new capital will allow Empirical to write larger cheques to early-stage science-led founders across the UK, particularly outside London, using its SEIS and EIS fund alongside an angel syndicate.

The firm was founded by Dr Ben Miles (PhD, Physics) and Dr Johnathan Matlock (PhD, Chemistry), who first worked together at Ziylo Ltd, a University of Bristol spinout developing glucose-sensing molecules for diabetes treatment.

In 2018 ...