IP Group launches £30m venture fund with strong EIF backing


universityIntellectual property-based business developer IP Group has launched a £30m venture capital fund in partnership with the European Investment Fund.

IP Venture Fund II will invest alongside IP Group in spin out companies from the organisation’s university partnerships and other collaborators.

EIF has contributed £20m of the fund’s capital according to IP, which said that the vehicle would co-invest with it in such a way that IP would effectively put up four times the capital of the EIF in each deal.

The fund’s predecessor had invested £21m of the £31m it launched with in 2006.

Both funds will be managed by Top Technology Ventures, IP Group’s FCA-authorised venture capital fund management subsidiary.

IP Group CEO Alan Aubrey said, “We are delighted to have agreed a second fund with the EIF, a key partner for the group who share a similar view on the importance of providing long-term ‘patient’ capital to intellectual property commercialisation.

“Finding like-minded partners to invest alongside us remains an important component of our model; ensuring our most promising companies have access to patient capital as well as delivering synergistic value to both shareholders and partners.”

EIF principal for equity investments Piyush Unalkat said, “We have been working with IP Group since 2006 and have been impressed by the group’s ability to build valuable companies from the best of British intellectual property and evidence returns to co-investors and shareholders.

“We look forward to creating the next generation of spin-outs with the new Fund.”

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