North East Technology Fund news 2010
IP Group plc – Wins mandate to manage £25m North East Technology Fund
22 Jan 2010
IP Group plc (LSE: IPO) (“IP Group” or the “Company” or “Group”), the intellectual property commercialisation company, is pleased to announce that it has won the mandate to manage a £25m North East Technology Fund (“the Fund”). The Fund will invest in technology companies in the North East region from seed through to growth stages of development including opportunities from the leading research universities based in the region.
The Fund will be managed by IP Group’s FSA-regulated venture capital fund management subsidiary, Top Technology Ventures Limited, from offices in Newcastle upon Tyne. The Group will receive management fees and has the potential to generate performance fees from successful investment of the Fund. In addition, the Group will be able to co-invest alongside the Fund in appropriate opportunities.
For the full announcement, please click here.
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