IP Group, Inc. raises $50.0m (£36.5m*) of funding
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FOR RELEASE ON |
10 February 2021 |
IP Group plc - IP Group, Inc. raises additional $50.0m (£36.5m*) of funding
IP Group plc (LSE: IPO) ("IP Group" or "the Group"), the developer of intellectual property-based businesses, is delighted to announce that IP Group, Inc., its North American platform, has secured an additional $50.0m (£36.5m*) of funding, including $40.0m from a new US blue-chip institutional investor.
IP Group plc committed $10.0m of funding and now has a 61.3% interest in the North American platform. This brings the total funds raised by the team over the past twelve months to $63.5m, including $15.0m from IP Group plc.
This additional funding is consistent with the Group's strategy of financing IP Group, Inc. alongside third-party strategic investors. The funds will support the continued growth of the platform's maturing portfolio as well as its pipeline of new opportunities.
IP Group, Inc. discovers and builds early-stage companies with extraordinary commercial potential, based on world-changing technology emerging from some of the most prestigious universities and national laboratories in the United States. These include: The University of Pennsylvania, Yale University, Princeton University, Columbia University, Johns Hopkins University and the University of Washington. The Company has holdings in a number of exciting growth technology companies including MOBILion Systems, Uniformity Labs, Exyn Technologies and Carisma Therapeutics.
* GBP equivalent using 1.37 USD/GBP.
For more information, please contact:
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IP Group plc |
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Greg Smith, Chief Financial Officer |
+44 (0) 20 7444 0050 |
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Charlotte Street Partners |
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David Gaffney |
+44 (0) 7854 609998 |
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Andrew Wilson |
+44 (0) 7810 636995 |
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IP Group Inc. |
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Frank De Maria, Purposeful Communications |
+00 1 347 647 0284 |
Notes for editors
About IP Group
IP Group is a leading intellectual property commercialisation company which focuses on evolving great ideas, mainly from its partner universities, into world-changing businesses. The Group has pioneered a unique approach to developing these ideas and the resulting businesses by providing access to business building expertise, capital (through its 100%-owned FCA-authorised subsidiaries IP Capital and Parkwalk Advisors), networks, recruitment and business support. IP Group has a strong track record of success and its portfolio comprises holdings in early-stage to mature businesses across life sciences and technology. IP Group is listed on the Main Market of the London Stock Exchange under the code IPO. Group holdings in portfolio companies reflect the undiluted beneficial equity interest excluding debt, unless otherwise explicitly stated. For more information, please visit our website at www.ipgroupplc.com .
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