# Intermediate Capital Group

> Intermediate Capital Group is a VC fund backing Biotechnology and Health Care. See 43 investments, check sizes, portfolio and contact details. Updated Aug 2026.

- Type: VC Fund
- Location: London, United Kingdom
- Total investments: 43
- Last investment: Jan 2026
- Lead investor: 72%
- Last fund: Mar 2025
- Last updated: Aug 2026
- LinkedIn: https://www.linkedin.com/company/intermediate-capital-group
- X (Twitter): https://twitter.com/icgplc
- Website: http://www.icgam.com
- Facebook: https://www.facebook.com/icginternship

Intermediate Capital Group is a VC fund in London focused on Biotechnology and Health Care. Intermediate Capital Group - Mezzanine Finance. They structure and provide mezzanine finance, leveraged credit and minority equity, managing €12.1 billion of assets from third party investors and their balance sheet. They are one of the largest independent mezzanine providers in the world with investment portfolios in Europe, Asia Pacific andthe US. They also have one of the longest track records of any institutional investor in European senior loans and high yield bonds. Over two decades they have earned the trust of leading institutional investors, investment advisors and private equity sponsors. They enjoy genuine partnerships with management teams of the companies they invest in. Their international network of 11 offices is run by local investment professionals.​​​​

## Contacts

5 contacts available for Intermediate Capital Group. Shizune tracks 17 team members at Intermediate Capital Group. Sign up free to unlock them: https://app.shizune.co/sign-up/investor-profiles/find-team-emails/intermediate-capital-group?utm_source=investor_profile

## Round sizes

| Stage | Round size |
| --- | --- |
| Series B | $50M–$172M |
| Private Equity | $49M–$439M |

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| Biotechnology | 7 | 16% |
| Health Care | 6 | 14% |
| Information Technology | 5 | 12% |
| Software | 4 | 9% |
| Therapeutics | 4 | 9% |

65 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Private Equity | 19 | 44% |
| Series B | 4 | 9% |
| Secondary Market | 4 | 9% |
| Funding Round | 3 | 7% |
| Debt Financing | 3 | 7% |

11 stages tracked in total.

### Country

| Country | Investments | Share |
| --- | --- | --- |
| United Kingdom | 10 | 23% |
| France | 6 | 14% |
| United States | 6 | 14% |
| India | 2 | 5% |
| Norway | 2 | 5% |

16 countries tracked in total.

## Team

| Name | Title | Investments | Profile |
| --- | --- | --- | --- |
| Justin McDougall | Principal | 1 | https://shizune.co/investors/profile/justin-mcdougall |
| Toby Sykes | Managing Director, Life Sciences | 2 | https://shizune.co/investors/profile/toby-sykes |
| Wooseok Jun | Managing Director | 2 | https://shizune.co/investors/profile/wooseok-jun |
| Alan Jones | Senior Managing Director | 0 | https://shizune.co/investors/profile/alan-jones-902b |
| Benoit Durteste | Chief Investment Officer and Chief Executive Officer | 0 | https://shizune.co/investors/profile/benoit-durteste |

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| Mediar Therapeutics | Mediar Therapeutics is a biotechnology company that develops antibody-based medicines and biologic therapies to address cancer, autoimmune diseases, and other serious health conditions. Its research platform focuses on engineering multi-specific antibodies and modular biologics that can engage multiple biological targets or pathways simultaneously,enabling precise modulation of immune responses. The company’s pipeline includes therapeutic candidates designed to activate or inhibit specific immune functions, with the goal of improving clinical outcomes in oncology and immune-mediated disorders. Mediar Therapeutics also works on scalable manufacturing processes and collaborates with scientific partners to advance its biologics from discovery through clinical development. Its approach integrates protein engineering, immunology, and translational research to create biologic medicines that address complex disease mechanisms. The company continues to refine its technology and expand its therapeutic programs to support future clinical and regulatory progress. | $76M | Series B | Jan 07, 2026 |  |
| FUNECAP GROUPE | FUNECAP GROUPE provides activities and national services of funeral parlors, crematoriums, coffins, marble works, funerary articles, funeralROC ECLERC remains true to its policy: the guarantee of the best quality of services and products at prices accessible to all. The brand carries strong values ​​of respect for families, irreproachable qualityand the search for the right price. They represent a constant commitment to families. | $2.3B | Debt Financing | Nov 21, 2025 |  |
| Magellan | Magellan Partners is a catalyst for the digital transformation of companies! Taking advantage of the potential offered by information technologies, Magellan Partners aims to help companies transform their business model and their way of working. |  | Secondary Market | Oct 22, 2025 |  |
| Infra Group | Verbraeken Infra builds and renovates utility infrastructure networks for gas, water, electricity and telecom companies. Vebraeken-Infra generates sales of € 140 million annually, with 1.000 employees across Belgium, France and Germany. Waterland supports Infra Group in its continued expansion in Europe and beyond. This growth strategy resulted inexpansion of Verbraeken-Infra’s footprint both organically as well as through acquisitions in France, Germany and the Benelux and has strengthened Verbraeken-Infra’s leading market position in Belgium. |  | Secondary Market | Sep 11, 2025 |  |
| Legal & General | They are not only a top 20 global asset manager but also the UK’s largest provider of individual life assurance products and a market leader in managing retirement risk for pension schemes, both in the UK and US. Their purpose is to improve the lives of their customers, building a better society for the long term and creating value for theirshareholders.They are committed to being economically and socially useful. Their long term financial sustainability is for the benefit of their customers, employees, shareholders, suppliers and society at large. Their products, services and investments should show both economic and social value for the future.They recognise and reward success, investing in the development and wellbeing of their employees. They strive to be a vibrant business that values inclusiveness and embraces difference, where their people are engaged and empowered to deliver outstanding results. | $1B | Post-IPO Debt | Sep 05, 2025 |  |
| Wugen | Wugen is developing off-the-shelf cellular therapies for cancer. Our NK cell therapy products originate from healthy donors and are further manipulated in order to enhance their function to eliminate cancer cells. Our NK cell and CAR-T immuno-oncology therapies address the needs of patients with solid tumors, acute myeloid leukemia (AML) and T-cellmalignancies. | $115M | Series C | Aug 27, 2025 |  |
| Draig Therapeutics | Draig Therapeutics is a clinical-stage biopharmaceutical startup dedicated to creating next-generation treatments for serious neuropsychiatric illnesses. | $140M | Series A | Jun 18, 2025 |  |
| Konecta | Konecta Corporativa is a provider of Outsourced Contact Centres and Business Process Outsourcing services in Spain with a relevant footprint in Latin America. | $77.9M | Private Equity | Feb 12, 2025 |  |
| F2G | F2G is advancing its own patented compounds and technologies which will lead to the development of novel agents to treat serious fungal disease. The Company was founded on its proprietary genomics technology (MycoBank®) that identifies essential gene targets in fungi. Having received initial funding in 2002 the company then rapidly diversifiedinto chemistry-driven discovery. They have also assembled an experienced development capacity. | $100M | Series H | Sep 12, 2024 |  |
| Draig Therapeutics | Draig Therapeutics is a clinical-stage biopharmaceutical startup dedicated to creating next-generation treatments for serious neuropsychiatric illnesses. |  | Seed | Sep 01, 2024 |  |

10 of 43 investments shown.

## Co-investors
- [RA Capital Management](https://shizune.co/investors/profile/ra-capital-management) — VC Fund, 6 deals together
- [Access Biotechnology](https://shizune.co/investors/profile/access-biotechnology) — VC Fund, 4 deals together
- [Mill Rock Capital](https://shizune.co/investors/profile/mill-rock-capital) — VC Fund, 4 deals together
- [Canaan Partners](https://shizune.co/investors/profile/canaan-partners) — VC Fund, 3 deals together
- [RiverVest](https://shizune.co/investors/profile/rivervest) — VC Fund, 3 deals together
- [SV Health Investors](https://shizune.co/investors/profile/sv-life-sciences) — VC Fund, 3 deals together

## Similar investors

### Similar industry
- [SOSV](https://shizune.co/investors/profile/sosv) — VC Fund
- [ARCH Venture Partners](https://shizune.co/investors/profile/arch-venture-partners) — VC Fund
- [OrbiMed](https://shizune.co/investors/profile/orbimed-advisors) — VC Fund

### Similar stage
- [Foresight Group](https://shizune.co/investors/profile/foresight-group) — VC Fund
- [YFM Equity Partners](https://shizune.co/investors/profile/yfm-equity-partners) — VC Fund
- [Fondaction](https://shizune.co/investors/profile/fondaction) — VC Fund

### Similar country
- [Antler](https://shizune.co/investors/profile/antler-be9c) — VC Fund
- [Artesian VC](https://shizune.co/investors/profile/artesian-capital-management) — VC Fund
- [Blackbird Ventures](https://shizune.co/investors/profile/blackbird-ventures-australia) — VC Fund

## Featured in investor lists
- [Biotechnology Investors in Australia](https://shizune.co/investors/biotechnology-investors-australia)
- [Biotechnology VC Funds in Australia](https://shizune.co/investors/biotechnology-vc-funds-australia)
- [Biotech Investors in Australia](https://shizune.co/investors/biotech-investors-australia)
- [Biotech VC Funds in Australia](https://shizune.co/investors/biotech-vc-funds-australia)

## FAQ

### What does Intermediate Capital Group invest in?

Intermediate Capital Group invests primarily in Biotechnology, Health Care and Information Technology startups, most often at Private Equity and Series B stage. Most of the 43 investments tracked by Shizune back companies in United Kingdom. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### What is Intermediate Capital Group's check size?

Intermediate Capital Group typically joins rounds of $50M–$172M at Series B and $49M–$439M at Private Equity. These ranges are 10th–90th percentile round sizes calculated from confirmed public funding rounds, so they are a realistic guide to the rounds Intermediate Capital Group participates in.

### How do I contact Intermediate Capital Group?

Public channels for Intermediate Capital Group include LinkedIn, X (Twitter) and the website linked on this profile. For a verified work email and phone number, create a free Shizune account — contact data is searched across 20+ sources and validated before delivery, so your outreach lands in the right inbox.

### Who are the partners at Intermediate Capital Group?

The team at Intermediate Capital Group includes Justin McDougall (Principal), Toby Sykes (Managing Director, Life Sciences) and Wooseok Jun (Managing Director), among 17 team members tracked by Shizune. The Team section lists each member with their title, investment count and links.

### Is Shizune's investor data accurate?

Yes — every stat on this profile is calculated from confirmed public funding rounds monitored across hundreds of sources since 2020. This profile was last refreshed in Aug 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.

# About Shizune
Shizune.co is an investor database. Core features:
- 48,091 startup investors (angels, VCs, accelerators, and others)
- Email, phone, LinkedIn (for intros), socials, and other contact data
- Updated daily from public funding news
- CSV and Excel export

The User can access the full database FOR FREE after signing up: shizune.co