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Martlet Capital

VC

GBDeep TechBio/PharmaHealthtechAI/MLEnterpriseClimate

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Investment thesis

Martlet Capital is an early-stage investor based in Cambridge, providing patient capital to IP-rich, B2B deep technology and life science startups with high growth potential. The firm focuses primarily on companies in the Cambridge cluster, investing upwards of £250k in first rounds and following on in subsequent rounds, always co-investing alongside angels and seed funds. Martlet backs ambitious entrepreneurs advancing science and technology across areas such as AI, personalised medicine, novel materials, quantum technologies, robotics, semiconductors, synthetic biology, and techbio. Now operating as EMV Capital's early-stage Cambridge investment practice, Martlet offers value beyond capital through board support, strategic guidance, and access to its deep network within the Cambridge innovation ecosystem.

Notable quotes

Martlet Capital will continue to be an important seed stage investor in the Cambridge deep tech start-up ecosystem.

Robert Marshall · Cambridge Network / EMV Capital press release · 2021-09-16

With an outstanding team and long-standing relationships with the University of Cambridge and the local technology and investment community we aim to be the seed stage funding partner of choice.

Robert Marshall · EMV Capital press release · 2021-09-16

Companies including OctaiPipe, Porotech, Cambridge GaN Devices, Paragraf and Nu Quantum are developing technologies that we believe are well positioned to benefit from long-term structural shifts in AI infrastructure.

Ilian Iliev (EMV Capital MD) · Cambridge Independent · 2025-05-01

Team

Robert Marshall

Executive Chairman & Founder

Deep TechBio/PharmaEnterprise

Paul Bailey

Managing Director / CEO

Deep TechHealthtechAI/ML

Alan Cowley

Investment Analyst

Deep TechBio/Pharma

Recent investments

CompanyRoundSizeDate
AllFocal OpticsSeed$5m2024-11-06
InfinitopesSeed$16m2024-05-01
XamplaSeries A$14m2025-09-01
OctaiPipePre-Series A$4m2024-01-23
SpottaSeed$4m2023-12-15
Nu QuantumPre-Series A$9m2023-11-03
Echion TechnologiesSeries B$37m2024-01-01
AbcamSeed
Cambridge GaN DevicesSeed
ParagrafSeed

Frequent co-investors

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