IP Group plc (LSE: IPO), the intellectual property
commercialisation company, is delighted to announce that it has
established a new venture capital fund in partnership with the
European Investment Fund, one of the leading venture capital
investors in Europe.
The IP Venture Fund (the “Fund”) will seek to
attract total commitments of up to £30 million and has had a
first closing of £15.5 million including a commitment of
£1.4 million from IP Group.
The Fund will be managed by Top Technology Ventures Limited, the
venture capital fund management subsidiary of IP Group, and will
commit in the region of 25% of the amount of post-seed financings
of IP Group portfolio companies alongside capital committed by
external investors, subject to the terms of the Fund.
The Fund will also have the ability to invest alongside IP Group
in seed-financings as part of future IP Group university
partnerships, subject to the agreement of the relevant
Alan Aubrey, Chief Executive of IP Group, said:
“The European Investment Fund is one of the leading venture
capital investors in Europe and has a similar view to IP Group of
the investment potential and importance of successful intellectual
property commercialisation. We are delighted to have established IP
Venture Fund with support from the EIF and look forward to working
together in the future.
For further information about IP Group plc please
|IP Group plc
||020 7489 5200|
|Alan Aubrey, Chief Executive Officer
|Magnus Goodlad, Executive Director
|Liz Vaughan-Adams (Communications)
|KBC Peel Hunt Ltd
||020 7418 8900|
||020 7466 5000|
|Mark Court, Tim Anderson, Mary-Jane Johnson
Notes for Editors
About IP Group
IP Group Plc is an intellectual property (IP) commercialisation
company that specialises in commercialising university technology.
Founded in 2001, IP Group listed on AiM in October 2003 and moved
to the Official List in June 2006. It has made two acquisitions to
date – Techtran, a company set up to commercialise university
intellectual property under a long term contract with the
University of Leeds, in 2005 and Top Technology Ventures, an
investment adviser to early stage technology venture capital funds,
The group has formed long-term partnerships with seven
universities – University of Oxford, King’s College
London, CNAP/University of York, University of Leeds, University of
Bristol, University of Surrey and University of Southampton.
As at 13 June 2006, 42 spin-out companies had been created among
the group’s university partners. Of those, seven have listed
on the AiM market of the London Stock Exchange and there has been
one trade sale.
For more information, please visit our website at
About the European Investment Fund
The European Investment Fund (EIF) is the EU specialized vehicle
providing venture capital and guarantee instruments for SMEs. The
EIF is a European institution whose main objective is to support
the creation, growth and development of Small and Medium-sized
Enterprises (SMEs). It intervenes by means of risk capital and
guarantee instruments, using either its own funds or those
available within the framework of mandates entrusted to it by the
European Investment Bank (EIB) or the European Union.
The EIF has a tripartite shareholding, which includes the EIB,
the European Union represented by the European Commission, and a
number of European banks and financial institutions, from the
public or private sector. The EIF acts in a complementary role to
its majority shareholder, the EIB.