10th Oct 2013 07:14
LONDON (Alliance News) - IP Group PLC and Cambridge Innovation Capital have reached an agreement under which it will share information on investment and co-investment opportunities, as well as helping one another to access those opportunities where appropriate, IP Group said Thursday.
IP Group, the developer of intellectual property based businesses, also said it has completed a GBP5 million investment in Cambridge Innovation Capital, which will invest in long-term equity finance to help companies bin the middle stages of commercial development.
IP Group has an 8% stake in Cambridge Innovation Capital.
IP Group said it invested alongside the University of Cambridge Endowment Fund, ARM Holdings PLC, Invesco Perpetual and Lansdowne Partners.
A so-called Memorandum of Understanding was signed between IP Group and Cambridge Innovation Capital, with the two investors set to share information on investment and co-investment opportunities in the Cambridge Cluster and to provide each other with access to such co-investment opportunities.
Cambridge Innovation Capital will be supported by the University of Cambridge through its commercialisation office, Cambridge Enterprise.
IP Group shares were Thursday quoted at 136.9 pence, down 0.5 pence, or 0.4%.
By Samuel Agini; [email protected]; @samuelagini
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