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Empirical Ventures is a venture capital firm based in London and Bristol, United Kingdom, that invests in early-stage deep tech startups and university spin-outs. The firm focuses on pre-seed and seed-stage companies operating across sectors such as energy, advanced materials, and life sciences, providing patient capital to bridge scientific discoveries into commercial viability. The organization manages a £10 million SEIS and EIS fund and has secured significant institutional backing, including a £10 million capital commitment from the British Business Bank and a £5 million co-investment facility from British Business Investments. Prior to the official fund launch, the investment team supported 55 deep science angel investments and backed early-stage portfolio companies such as Exciting Instruments, a spin-out from the University of Sheffield. Empirical Ventures was founded in 2024 by Dr. Ben Miles and Dr. Johnathan Matlock.
Key people at Empirical Ventures.
The firm operates through the Empirical Ventures Fund I, which is structured as an SEIS and EIS fund, designed to invest in eligible early-stage businesses in the UK.
Empirical Ventures focuses on leading pre-seed and seed investment rounds for deep science startups, providing capital at their earliest development phases.
The firm operates through the Empirical Ventures Fund I, which is structured as an SEIS and EIS fund, designed to invest in eligible early-stage businesses in the UK.
Empirical Ventures focuses on leading pre-seed and seed investment rounds for deep science startups, providing capital at their earliest development phases.
Empirical Ventures operates as a specialized investment firm, concentrating its efforts on the nascent stages of deep science and biotechnology companies. The firm's core mission involves identifying and funding startups that are developing innovative solutions to significant challenges within the life sciences sector. This focus allows Empirical Ventures to engage with cutting-edge research and scientific breakthroughs.
The firm's primary investment vehicle is the Empirical Ventures Fund I, which is designed as an SEIS and EIS fund. This structure enables the firm to raise capital for early-stage businesses by investing in ventures that qualify for the UK's Seed Enterprise Investment Scheme (SEIS) or Enterprise Investment Scheme (EIS). These schemes are crucial for supporting early-stage investment in the UK.
Empirical Ventures specifically targets pre-seed and seed-stage investments, aiming to lead funding rounds for deep science startups within the UK. This early-stage focus is intended to provide foundational support to scientific ventures as they transition from research to commercial development. The firm has publicly stated a target of raising a £10 million fund to facilitate these investments.
The leadership team, including co-founders Dr. Ben Miles and Johnathan Matlock, emphasizes backing entrepreneurial scientists. Both co-founders bring a background as scientists, entrepreneurs, and investors, aligning the firm's approach with the needs and challenges faced by scientific founders. This perspective informs their strategy of supporting innovative approaches to critical problems in their chosen fields.
Empirical Ventures has 5 tracked investments across 5 companies. The latest tracked deal is $3.0M Seed in Orthofuse in February 2026.
| Date | Company | Round | Lead Investor(s) | Co-Investor(s) |
|---|---|---|---|---|
| Feb 12, 2026 | Orthofuse | $3.0M Seed | — | ACF Investors, Cambridge Angels, Didier Cowling |
| Jan 12, 2026 | OutSee | $3.4M Seed | Ahren Innovation Capital | Kadmos Capital, Panacea |
| Oct 20, 2025 | HotGreen Solutions | $1.6M Pre-Seed | Empirical Ventures | Almanac Ventures, First Imagine!, The Conduit |
| Apr 8, 2025 | OSSTEC | $3.4M Other Equity | Empirical Ventures | — |
| Apr 10, 2024 | Neuronostics | $3.1M Grant / Seed | Chris Wheatcroft | Cornwall And Isles OF Scilly Investment Fund, Innovate UK, Qantx |
Key people at Empirical Ventures.
