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.
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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.