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    Calculus Capital

    London, United KingdomFounded 1999
    calculuscapital.comLinkedIn
    Biotech & Life SciencesHealthcareMedia & EntertainmentFintechSaaSClimate & Energy

    Calculus Capital is a London-based venture capital firm founded in 1999, specializing in tax-efficient investment solutions through Enterprise Investment Scheme (EIS) and Venture Capital Trust (VCT) funds. The firm invests in innovative, high-growth UK companies across sectors including technology, healthcare, life sciences, and media.

    Deal activity decreased year-over-year (2 deals in the last 12 months vs 3 prior). Average disclosed round size is $23.1M (across 11 rounds with reported amounts).

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    Portfolio

    26

    Fund Size

    —

    Top Stage

    Series A

    Last 12 Mo

    2

    Team

    Arvind Shandilya

    Arvind Shandilya

    Assistant Investment Director

    Brad Noel

    Brad Noel

    Assistant Director, Media and Entertainment Financing

    Christopher Gould

    Christopher Gould

    Assistant Director, Media and Entertainment Financing

    Elizabeth Klein

    Elizabeth Klein

    Investment Director

    Francesca Rayneau

    Francesca Rayneau

    Director, Head of Sales and Marketing

    Frank Spurway

    Frank Spurway

    Assistant Director, Sales & Marketing

    Mariyah Dosani

    Mariyah Dosani

    Director - Media and Entertainment Financing

    Matthew Moynes

    Matthew Moynes

    Director, Sales & Marketing

    Natalie Evans

    Natalie Evans

    Finance Director

    Oliver Warren

    Oliver Warren

    Director, Sales & Marketing

    William Prince

    William Prince

    Director, Finance and Fund Administration

    Aitian Li

    Aitian Li

    Investment Associate

    Portfolio Breakdown

    Stage Distribution

    Sector Distribution

    Investment Activity

    DealsAvg Round Size

    Portfolio

    39 investments
    CompanyRoundAmountDate
    Trogenix logoTrogenixSeries A—Oct 2025
    Trogenix logoTrogenixSeries A$70MOct 2025
    Ensilitech logoEnsilitechSeed—Aug 2025
    LLaverock TherapeuticsSeed—Jun 2025
    Laverock logoLaverockSeed—Jun 2025
    Trogenix logoTrogenixSeries A$70MJan 2025
    WWorkLSeries A—Jan 2024
    Arctic Shores logoArctic ShoresSeries B—Jan 2023
    Wazoku logoWazokuSeries B—Sep 2022
    Axol Bioscience logoAxol BioscienceUnknown—Apr 2022
    rotageek logorotageekSeed—Jan 2022
    Wazoku logoWazokuGrowth—Jul 2020
    MMip DiagnosticsUnknown—Jul 2020
    Wazoku logoWazokuSeries A—Jan 2020
    CloudNC logoCloudNCSeries A$12.0MJun 2018
    Invizius logoInviziusSeries A—Apr 2018
    CCloudTradeUnknown—Jan 2018
    MMip DiagnosticsSeries A—Jan 2018
    SSynpromicsUnknown—Apr 2017
    SSynpromicsUnknown—Jan 2017
    Money Dashboard logoMoney DashboardSeries A—Jan 2015
    SSynpromicsUnknown—Jan 2015
    Money Dashboard logoMoney DashboardSeed$3.7MNov 2014
    Money Dashboard logoMoney DashboardSeed$4.4MNov 2013
    Money Dashboard logoMoney DashboardSeries A—Nov 2013
    Page 1 of 2

    Top Co-Investors

    Mercia Asset Management10 shared
    Scottish Enterprise Growth Investment Team7 shared
    Eli Lilly and Company5 shared
    IQ Capital4 shared
    Eos Advisory3 shared
    4BIO Capital3 shared
    Cancer Research Horizons3 shared
    Brain Tumor Investment Fund3 shared
    LongeVC3 shared
    Crowdcube3 shared
    Barclays3 shared
    British Business Bank2 shared
    Future Planet Capital2 shared
    UK Innovation & Science Seed Fund2 shared
    Old College Capital2 shared
    BGF2 shared
    Lockheed Martin Ventures2 shared
    Atomico2 shared
    Entrepreneurs First2 shared
    Episode 12 shared

    Last updated: 20 October 2026