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Fund profile / United Kingdom

Empirical Ventures Fund I

Geography
United Kingdom
Stage
Pre-Seed
Fund size
£15M
Focus
Biotech, Deep Tech, Energy Tech and MedTech
Signals
Published
Share
N°01 / About

About Empirical Ventures Fund I

Empirical Ventures' deeptech fund reached £15M in total commitments, including a further £10M from the British Business Bank announced March 2026. The Bristol-based firm backs "Venture Scientists" — founders applying rigorous scientific methodology outside London hubs like Bristol, Manchester and Edinburgh. Led by co-founder and GP Dr Johnathan Matlock, the fund targets novel energy generation, advanced materials and next-generation life sciences. Portfolio includes Delta g and Basecamp Research.

N°02 / Thesis

Investment Focus

Location / RegionUnited Kingdom
Funding StagePre-Seed
Industry Focus
Biotech
Deep Tech
Energy Tech
MedTech
Therapeutics

Investor Signals Profile

active

Sweet Spot

Scientist-founders outside London building IP-defensible deeptech in energy, advanced materials, life sciences, biotech regulatory pathways

deeptech
advanced-materials
energy-generation
life-sciences
regional-uk
iterative-fundraising
early-trl
biotech-regulatory
cardiometabolic-disease

Bullish Signals

British Business Bank increased its commitment to £10M, bringing total fund size to £15Mweb
Clear regional sourcing edge outside London-centric deeptech competitionweb
Portfolio already includes Basecamp Research, a category-recognized biodiversity-data deeptech nameweb
GP emphasizes iterative fundraising + 9-month cadence as deeptech bedrockexternal
Discipline of smaller raises, low burn, genuine de-risking compounds through Series Aexternal
Argonaute RNA portfolio win: Bayer Co.Lab partnership validates biotech regulatory strategyexternal
Portfolio company advancing toward human trials; orphan-disease-first approach de-risks larger cardiometabolic opportunityexternal

Contrarian Signals

Fund remains small (£15M) relative to capital-intensive deeptech and hardware development needsweb
Narrow scientific-founder thesis limits addressable deal flow versus generalist seed fundsweb

Founder Do's

Emphasize rigorous scientific methodology and IP defensibility over growth-hacking metrics
Highlight a base outside London — Bristol, Manchester, Edinburgh and similar hubs are a strong fit
Show a credible path from lab-grade science to a fundable, de-risked product
Work backwards from 9-month genuine de-risking milestone before closing raise
Right-size round to actual milestone cost; smaller round + low burn + cadence beats big raise
Map regulatory pathway early; orphan disease route as proof-of-concept strategy resonates with GPs

Founder Don'ts

Dont pitch consumer apps or thin software wrappers with no scientific IP core
Dont assume London-centric positioning helps — regional deep-science roots are the sourcing edge
Dont raise for the milestone you hope for; fund the one you'll actually run

21 signals on Empirical Ventures Fund I

7 bullish · 2 contrarian · 6 pitch do's · 3 don'ts · 3 GP profiles, each with its source. From €9/month, cancel anytime.

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Facts

Fund Overview

Fund Size£15M
Saves0
Website
LinkedIn
People

Key People

Dr Johnathan Matlock

Dr Johnathan MatlockCo-Founder / General Partner
Dr Ben MilesPartner
Alexander FinkPartner
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