IP Group, a developer of intellectual property-based technology spinout businesses from a dozen British universities including Bath and Bristol, has boosted the value of its investment portfolio from £123.8m on December 31 to £178.6m.
The increase is largely due to the £26.4m fair value gain as a result of Oxford Nanopore Technologies’ financing announced last week.
It says in a trading update that during the period from January 1 to May 4, it invested £14.5m in 18 portfolio companies compared to £4.3m in 15 a year earlier.
Its portfolio includes an 11.1% stake in Revolymer, a spin-out company from the University of Bristol, which has developed a non-stick, removable chewing gum and is seeking further retail partners with the aim of having its gum on-shelf in the UK by this autumn.
The company's portfolio comprises holdings in more than 60 companies including Oxford Nanopore Technologies, a DNA sequencing development company, and Xeros, which has developed a ‘waterless’ washing machine.
