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.
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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.