IP Group said its portfolio company Bramble Energy had completed a £35m funding round to further develop and commercialise its fuel cell stack capabilities.
The intellectual property investor said it committed around £10m to the round, adding that its 32.3% stake in Bramble would be valued at £20.7m, a gain of about £6.6m.
Bramble will use the cash to roll out its portable power products globally and develop its liquid cooled fuel cell stack capability.
In a second deal, IP said portfolio company First Light Fusion, a company that researches energy generation via inertial fusion, had raised $45m.
IP committed £5m and now has a stake of 27.4% in First Light, representing a net unrealised fair value gain of £27.2m.
