The Royal Society Enterprise Fund, which supports early new technology enterprises and a culture of scientific innovation in the UK, has invested in Base4Innovation and Nano-Porous Solutions.

Base4Innovation is developing a new generation of ultra-fast DNA sequencing technology. The Enterprise Fund will jointly invest with existing backers Oxford Technology ECF and new investors Sir Martin and Lady Audrey Wood. Sir Martin Wood, founder of Oxford Instruments, is also a fellow of the Royal Society and donors to the Enterprise Fund.

Further, the Enterprise Fund will be lead investor in a £750,000 fundraising in green air filtration company Nano-Porous Solutions alongside local business angels including John Clough, former chief executive of Eaga Plc.

Sir Peter Williams, chairman of the Enterprise Fund said: “We are delighted in both cases to have been able to co-invest with business angels, including a Fellow of the Royal Society.”

The investment phase of the Royal Society Enterprise Fund was launched in 2008 as one of a number of initiatives leading up to the 350th anniversary of the founding of the society.

The fund made its first investment in August 2008 in ‘green cement’ company Novacem.

The Enterprise Fund is philanthropically backed, with a goal to raise £20m, and has already received generous donations from visionary leaders including Adrian Beecroft, Roger Brooke, Hermann Hauser, Stelio Stefanou and Lord Sainsbury of Turville.