20th Nov 2013 10:19
LONDON (Alliance News) - IP Group PLC Wednesday said it has made a GBP3.3 million unrealised fair value gain as a result of a GBP4 million fundraising by one of its portfolio companies.
IP Group, which makes money by investing in university spin-out companies in exchange for equity and profiting from their growth, said it made the gain after analytics company Actual Experience Ltd. raised GBP4 million from new institutional and other investors, including funds managed by Henderson Global Investors.
IP Group now has an undiluted stake of 30.1% in Actual Experience, valued at GBP4.7 million.
Actual Experience boasts clients such as Thomson Reuters Corp., ITV PLC, Charles Stanley Group PLC, and Verizon Communications Inc., amongst other high-profile names. It will use the proceeds from the financing to fund expansion and improve its capacity to service its blue-chip customers.
IP Group shares were Wednesday quoted at 156.40 pence, up 1.6%.
By Samuel Agini; [email protected]; @samuelagini
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