Empirical Ventures is a Bristol-based venture capital firm co-founded by Dr. Ben Miles (PhD, Physics) and Dr. Johnathan Matlock (PhD, Chemistry), two scientists who first worked together at Ziylo, a University of Bristol spinout acquired by Novo Nordisk in a deal valued at more than $800 million. The firm backs what it calls venture scientists: PhD founders with deep technical expertise navigating the transition from academic research to commercial operation.
Empirical targets pre-seed and seed rounds in UK deeptech startups building in energy, advanced materials, robotics, and life sciences. The firm's core thesis is that generalist investors are structurally ill-equipped to evaluate early-stage deep science startups due to a lack of domain knowledge, and that scientist-investors are better positioned to identify, support, and champion founders operating at the frontier of their disciplines.
In March 2026, the British Business Bank committed a further €10 million to Empirical Ventures through its Regional Angels Programme, bringing the Bank's total support to €15 million following an initial €5 million commitment in April 2024. This additional capital enables Empirical to write larger checks to early-stage science-led founders across the UK, with particular focus on regions outside London including Bristol, Manchester, and Edinburgh.
The funding is deployed alongside the firm's SEIS and EIS fund and an angel syndicate, giving the firm flexibility to back founders from the earliest stages.
United Kingdom
