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EMV Capital plc

United KingdomEuropeUnited StatesDeep TechBio/PharmaHealthtechAI/MLClimate

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Investment thesis

EMV Capital plc is a deep tech and life sciences venture capital investment group with a strategic focus on generating superior returns for investors from the fast-growing sectors and technologies that will define our future. The firm invests in, manages, and strengthens early stage IP-rich companies. EMV Capital's approach is characterised by its proactive management style, aiming to advance companies to critical value inflection points. The firm's investment thesis is realised through three capital sources: capital-efficient investments through PLC balance sheet; fund management of the Evergreen EIS and Martlet Capital Funds; and syndicated investments leveraging its extensive network of third-party investors. EMV Capital holds both direct equity stakes and carried interest in its portfolio companies, creating an evergreen structure that supports extensive growth and value creation. The firm concentrates on a select cohort of companies at a time, driving growth and investment realisations through fundraising support and value creation services.

Notable quotes

EMV Capital has continued to make steady progress during 2025. We have maintained AUM above £100 million, completed the integration of Martlet Capital, advanced our Venture Building programme and supported a number of existing and new portfolio companies through important funding and commercial milestones.

Dr. Ilian Iliev · EMV Capital Trading and Portfolio Update · 2026-02-02

Building on our work with Martlet Capital and our team's longstanding links to the cluster, EMV Capital PLC is continuing to deepen its presence within the Cambridge ecosystem. We have made further investments in Martlet portfolio companies such as Xampla, Qkine and OctaiPipe, and we plan to continue increasing our investment activity in the region.

Dr. Ilian Iliev · LinkedIn Post · 2025

Recent investments

CompanyRoundSizeDate
Sofant TechnologiesSeries A$11m2026-01-05
Wanda HealthSeries A$7m2025-12-10
Q-BotSeries A$5m2025-06-27
SageTech Medical EquipmentSeed$10m2024-11-20
PDS Biotechnologyunknown
Cambridge GaN Devicesunknown
Paragrafunknown
NU Quantumunknown
Glycotestunknown
EpiBoneunknown

Frequent co-investors

VC firmDeals together
Scottish Enterprise1
Animal Health Angels1

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