Steve Young

But what's really interesting is what is happening with the companies that we've been investing in, and about a third of the investments that we've made over time have been into Cambridge spin-outs.

And the very first investment that Amadeus made was into a company called Entropic, which came from Professor Steve Young's lab in the engineering department here.

And that company, which powers speech recognition, was sold to Microsoft very quickly, only after about 18 months.

If we fast forward to now, Steve Young's latest or most recent spin-out was a company called PolyAI, which is building voice AI agents.

That company is now massively scaling.

It's raised over 200 million in capital.