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Calculus Capital

12 Conduit Street, London, England, W1S 2XH, United Kingdom

Overview

At Calculus Capital they are specialists in creating and managing tax efficient private equity funds for the individual. Funds that are ideal for today's market - offering generous tax benefits, and significant growth potential within a sensible risk profile. They look to make £2-5 million investments in established companies with proven management teams and a successful product or service. Their entrepreneurial flair, combined with their experience and sound commercial judgement has resulted in a diversified investment portfolio and an impressive track record. In June 2013 Calculus Capital was top ranked in the prestigious Martin Churchill Tax Efficient Review for the 6th year in a row. The Government has recently shown its support for EIS funds, by maintaining the five generous tax benefits and widening the scope of EIS investments. These changes benefit Calculus Capital's rigorous and proven strategy. As a result they are experiencing their strongest pipeline of prospective investments yet.

Total investments
46
Lead investments
33
Investments · 12mo
6
Active investors
7

Sector focus

  • Finance
  • Financial Services
  • Venture Capital
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Investment portfolio

  • Edify

    Led · Equity · Jun 2026

    Founded in 2024 by Ed Barry and based in London, Edify provides an AI-powered operations and hospitality management platform targeted at quick-service restaurants, cafés, and coffee shop chains. Its solution integrates inventory management, demand forecasting, and back-of-house operations into a single system. The platform's AI learns usage patterns to automate ordering, flag discrepancies before they become costly, and generate precise prep plans on a shift-by-shift basis. Edify also offers Ask Edify, an AI analytics agent that consolidates operational data into live dashboards to provide instant answers. The company recently raised capital in a round that included a £2.5M investment from Calculus and participation from existing investors. It intends to use the funds to expand operations and accelerate development.

  • Resurrect Bio

    Participated · Series A · May 2026

    Resurrect Bio’s core product is its FloraFold AI platform, trained to predict protein–protein interactions between crops and pathogens, coupled with high-throughput in-silico and in-planta screening to validate candidates. The company identifies pathogen effectors that bind plant NLR immune proteins and recommends specific, often minimal, gene edits for partners to break those interactions and restore resistance. Resurrect Bio does not perform the gene edits itself but provides precise targets and instructions to seed companies and breeders. It has demonstrated proof points such as conferring resistance to potato cyst nematode and has a joint development agreement with Corteva to work on corn disease resistance. Founded in December 2021 as a spinout from The Sainsbury Laboratory in Norwich, the company has raised a total of $12.4M and will use the new capital to grow its team and advance development of disease-resistance traits.

  • Grateful

    Led · Seed · Oct 2025

    Founded in 2022 by Mason Potter, Jarrod Potter, and Damian Guy, Grateful offers a digital tipping, tronc management, and worker-focused financial tool in one solution aimed at the service and hospitality sectors. The SaaS platform automates collection and fair distribution of tips while ensuring compliance with UK tronc regulations. Grateful’s system currently supports more than 50,000 users and integrates with industry partners such as Toast, EposNow, Deputy, and PayCaptain. Its vision is to modernize tipping by making the process transparent, simple, and rewarding for both businesses and frontline workers. Following the latest financing, the company plans to accelerate development of AI-driven fintech features, strengthen compliance capabilities, and expand into new geographic markets. The fresh capital also supports continued product enhancements that cater to the needs of frontline employees. Though revenue figures were not disclosed, the company positions itself as a cashless, fintech-enabled alternative to legacy tip-pooling methods.

  • Trogenix

    Participated · Series A · Oct 2025

    Trogenix is a biotechnology company focused on creating “one-and-done” treatments for aggressive solid tumours through its Odysseus platform. The platform combines genomics, oncology, immunotherapy and gene therapy, using AAV vectors to deliver proprietary Synthetic Super-Enhancers (SSEs) directly into tumour cells while evading immune detection. These SSEs precisely regulate gene expression to expose cancer cells to the immune system and trigger tumour cell death. If residual tumour cells persist, the approach acts as a ‘Trojan horse’ to counter recurrence. Founded by life-science investor 4BIO, the company aims to advance a pipeline of potentially curative therapies toward clinical trials. Trogenix is led by CEO Ken Macnamara and is headquartered in Edinburgh, Scotland. The new capital positions the company to accelerate pre-clinical research and move multiple candidates into the clinic.

  • EnsiliTech

    Participated · Seed · Aug 2025

    EnsiliTech’s patented Ensilication technology applies tiny inorganic silica layers to individual biological molecules, creating protective cages that keep vaccines, antibodies and other biopharmaceuticals stable outside the cold chain and able to withstand temperatures up to 50°C. The silica coating is biocompatible, inert and inexpensive; when a product is ready for use the cage breaks away leaving the active ingredient intact. The company positions this platform as a way to eliminate expensive, energy-intensive refrigeration in transport and storage, reduce drug waste and broaden access—particularly in regions where reliable cold-chain infrastructure is lacking. EnsiliTech reports early technical efficacy, in vivo safety validation and live commercial negotiations with billion-euro pharma partners, indicating growing commercial momentum. The team is predominantly female-led across leadership and R&D, an attribute that attracted investors focused on female-led businesses. The recent financing will support expansion of capacity, new hires, upgraded infrastructure and critical validation studies to embed Ensilication into pharmaceutical manufacturing processes. EnsiliTech has developed a patented platform technology called ensilication that can be applied to existing and new biopharmaceuticals to make them safe and stable at room temperatures. The technology preserves the integrity of vaccines and other biological materials across a wide temperature range (−20°C to +80°C). The company intends to use recently raised funds to develop a refrigeration-free approach to transporting vaccines and other materials. Ensilication aims to improve vaccine and biological-material distribution in developing countries where reliable refrigeration is a barrier to healthcare. The platform could also enable more rapid and safe distribution of Covid-19 vaccines to communities in need. EnsiliTech is led by Co‑founder and CEO Dr. Asel Sartbaeva and CTO Dr. Aswin Doekhie.

Team

  • John Glencross

    Chief Executive Officer & Co-founder

    LinkedIn
  • Robert Davis

    Deputy CEO and Head of Portfolio Management

    LinkedIn
  • Susan McDonald

    Chairman and Co-Founder

    LinkedIn
  • Richard Moore

    Investment Director

    LinkedIn