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Oxford Technology Management

GBDeep TechBio/PharmaHealthtechAI/MLOther

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Investment thesis

Since 1983, Oxford Technology Management has specialised in investing in startup and early-stage technology companies based in and around Oxford. The firm's only portfolio constraint is that each company must incorporate 'genuinely novel science or technology' — investing in 'proper' start-ups that can disrupt existing sectors or even create whole new ones. Through its flagship SEIS and EIS funds, OTM typically invests up to £150k of seed funding into SEIS-eligible companies and up to £300k of EIS follow-on funding into high-performers, leveraging generous tax reliefs and downside protection to de-risk these opportunities for investors. Oxford Technology targets an average annualised IRR of 25% over a 7–15 year period, with returns focused on capital gains. The firm is deeply embedded in the Oxford University ecosystem, receiving approximately 2,000 investment approaches per year and actively supporting portfolio companies with strategic guidance, access to follow-on capital, and connections within the Oxford network. Sectors of focus include biotech, healthcare, AI, and frontier/deep technologies.

Notable quotes

We invest in good science and have done this for a long time, using the wonderful SEIS and EIS schemes since 2012. In 2008 we invested in OrganOx at start-up. This had (and has) great science. In 2025 the business was sold for $1.5b in cash.

Lucius Cary · LinkedIn post, Oxford Technology Management · 2025

All the staff at Oxford Technology are scientists/engineers and we are all interested in science and what the scientists with whom we interact are doing… Meeting these people and hearing about what they are seeking to achieve is a real pleasure. Most are young, extremely bright and super enthusiastic.

Lucius Cary · CoInvestor 'People Behind the Product' interview

It is a great pleasure to do what we do and it delivers excellent returns to our investors.

Lucius Cary · CoInvestor 'People Behind the Product' interview

Recent investments

CompanyRoundSizeDate
Metacarpal ProstheticsSeries A2026-04
OrganOxSeries D2025-02
DiffblueSeries A2024-10
CryoLogyxSeed2024-03
EntiaSeed
Ducentis BioTherapeuticsSeed2015-07
ArecorSeed2007
ScancellSeries A2004-04
OxwashSeed2019-03
DarkbeamSeed2017-06

Frequent co-investors

VC firmDeals together
IP Group2
Worth Capital2
SIS Ventures1
Health Quest Capital1
Cambridge Capital Group1
Envestors1

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