IP Group raises £100m in funds

Michael Bow
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INTELLECTUAL Property financiers IP Group yesterday raised a further £100m from investors – a third more than it anticipated after strong institutional demand.

The company, which commercialises research from universities, originally intended to raise £75m as part of a proposal to acquire rival Fusion IP.

Half of the £100m was underwritten with a further £25m placed via open offer for existing shareholders in IP.