Oxford Technology Management

The firm draws heavily on the Oxford-Cambridge-London university ecosystem and surrounding science parks. With 45 years of operating history and a 295-member angel network (WOTAN), plus monthly open investor presentations, the firm reviews roughly 1,000 opportunities per year and invests in approximately five.

Managing Director Lucius Cary has led the investment committee since 1983. Director Andrea Mica joined in 2012 and shares the investment analysis and portfolio-oversight workload. The broader team supplies technical due diligence, but ultimate approval rests with Cary and Mica.

Investors subscribe to a three-year plan. In Year 1 the fund deploys one-third into SEIS-qualifying start-ups; Years 2 and 3 reserve capital for follow-on EIS rounds into the strongest performers. Each investor receives individually registered shares, enabling direct tax-relief claims.

The SEIS fund seeds roughly eight companies at the earliest stage. The Knowledge-Intensive EIS fund concentrates on five later-stage, higher-valuation companies already in the OT(S)EIS portfolio, offering a lower risk/return profile and a single tax-relief certificate timed to the fund close.

Yes. At monthly investor presentations, existing fund participants can evaluate and make direct follow-on co-investments into portfolio companies raising additional EIS-qualifying capital — the presentation on Accelerated Diagnostics in May 2026 is a recent example.

Primarily pre-revenue, seed-stage technology companies that qualify for SEIS tax relief. The firm then provides follow-on EIS funding at the early-revenue and growth stages for the top performers within the portfolio, typically up to £300,000 per company.

WOTAN was formalized in early 2024 in response to tightened UK high-net-worth eligibility thresholds. Membership is free and grants access to monthly pitch presentations and deal-flow information; the network counted over 295 registered members by Q1 2026.