Investors have ploughed almost as much money into spinouts in the first six months of the year as they did for all of 2020.

Let us start with some historical context: the first half of 2020 accounted for $11.3bn invested in spinouts. This was a welcome, upward trajectory from the $8.4bn in H1 2019, despite the disruptions caused by the pandemic. The total invested in spinouts globally for all of 2020 was just shy of $21.7bn. It had been…

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