IP Group

Overview
Price performance
Financials
Research
Thematics

IP Group helps to create, build and support IP-based companies internationally. It focuses on companies that meaningfully contribute to regenerative (renewable), healthier (life sciences) and tech-enriched (deep tech) futures.

There have been some green shoots of recovery in terms of European VC exits, and PitchBook noted that valuations seemed to be recovering in Q324. PitchBook estimates that excluding the Puig IPO and applying the 9M24 run rate to the rest of the year implies a 6.6% y-o-y increase in exit value in 2024. IP Group’s management expects further exits at or above carrying value through to end-2025.

Latest Insights

TMT |
Update

11.10.24

IP Group — Record exit underpinning the NAV

TMT |
Flash note

19.09.24

IP Group — Management sees positive portfolio momentum

TMT |
Flash note

01.08.24

IP Group — Novo Holdings invests in Oxford Nanopore

TMT |
Flash note

21.06.24

IP Group — Sale of Garrison Technology to Everfox

Visit Website

Sector

TMT

Equity Analyst

Milosz Papst

Head of Content, Investment Trusts

Dan Ridsdale

Head of Technology

Key Management

David Baynes

CFO
Greg Smith

CEO
Sir Douglas Flint

Chairman

Balance Sheet

Forecast net debt (£m)

N/A

Forecast gearing ratio (%)

N/A

Share Price Performance

Price Performance
%	1M	3M	12M
Actual	(16.6)	(1.3)	(23.7)
Relative	(13.7)	1.2	(29.4)
52 week high/low	58.5p/36.0p

Financials

IP Group’s realisation activity picked up notably in the months leading up to the company’s interim results publication in September, encouraging the company to increase the current buyback programme by £10m to £30m. Subsequently, IP Group agreed to sell the AI-powered financial crime detection business Featurespace to Visa. The exit will result in £134m in realisation proceeds at a 70% uplift to end-2023 carrying value, part of which was recognised in the H124 results, translating in a broadly stable value of IP Group’s private holdings.