I made a follow on investment as a very minor part of Pragmatic Semiconductor's £182m Series D.

This is an unusual one for me, unbundled vc very rarely invests this late stage. Why now?

Despite the stage, Pragmatic still has room for a 50-100x valuation multiple in the next 5-10 years. Its price point and groundbreaking short lead times unlock entirely new business models for users of its semiconductors - opportunities that were impossible before.

As an investor primarily focused on early-stage, I recognise the features that have the potential to create huge markets that didn't previously exist.

Thank you to Andrew Williamson and the team at Cambridge Innovation Capital for this opportunity that was only available to me as an LP in their fund.