IP Group’s North American platform raises another $50m

by | Feb 10, 2021

westminster

Intellectual property-based business developer IP Group announced on Wednesday that its North American platform, IP Group, Inc., has secured an additional $50m (£36.5m) of funding, including $40m from a new US blue-chip institutional investor.
The FTSE 250 company said it committed $10m of funding, and now had a 61.3% interest in the platform.

That brought the total funds raised by the team over the last 12 months to $63.5m, including $15m from IP Group.

“This additional funding is consistent with the group’s strategy of financing IP Group, Inc. alongside third-party strategic investors,” the board said in its statement.

“The funds will support the continued growth of the platform’s maturing portfolio as well as its pipeline of new opportunities.”

At 0939 GMT, shares in IP Group were up 0.04% at 106.24p.

Related articles

Ryanair passenger numbers jump 9% in December

Ryanair passenger numbers jump 9% in December

(Sharecast News) - Budget airline Ryanair reported a 9% jump in December passenger numbers on Wednesday. Traffic rose to 12.54 million from 11.52m in the same month a year earlier, while the load factor - which gauges how full the planes are - ticked down to 91% from...

Wizz Are passenger numbers soar in December

Wizz Are passenger numbers soar in December

(Sharecast News) - Hungary-based budget airline Wizz Air reported a strong rise in December passenger numbers as demand continued to rebound from the Covid pandemic. The company on Wednesday said it carried 4,964,857 passengers, an 18.8% increase year on year. For the...

Trending stories

Join our mailing list

Subscribe to our mailing list to receive regular updates!

x