IP Group's OSI raises £230m

IP Group, the developer of intellectual property-based businesses, said its portfolio company, Oxford Sciences Innovation (OSI) had raised £230m in a new round of financing.

OSI provides capital and scaling expertise to businesses driven by intellectual property developed at the University of Oxford.

After completiing the financing round, IP said its undiluted 8.1% beneficial stake in OSI will be valued at £55.5m, representing an unrealised fair value gain to the group of £8m.

IP Group has committed a further £7.5m to OSI as part of this funding round. OSI's capital base previously stood at £350m but, following the round, is now close to £600m, IP said.

"Some of Asia's leading technology companies and sovereign wealth funds, as well as European industrialists, are among the wave of new investors," IP said.