IP Group expects 2015 to be most successful year

IP Group said on Tuesday it expects 2015 to be its “most successful year” when it comes to financial performance.

The FTSE 250 intellectual property-based business developer posted a trading statement, ahead of its full year results due at the beginning of March.

It said the group had seen a number of significant deals in the second half of the year, including the admission of Diurnal Group plc to AIM in December which raised £30m.

Another three of IP Group’s companies also announced significant fundraisings which totalled approximately £70m.

The company said the value of its portfolio is expected to be over £550m at 31 December 2015, up from £350m a year before.

It represents a net unrealised fair value increase of more than £85m during the year, excluding net investment.

The group also provided £76m of incubation, seed and development capital to its portfolio companies, up from £47m in 2014, as well as a further £40m strategic investment into Oxford Science Innovations.

The Group's gross cash and cash equivalents were in excess of £175m at the end of the year.