The commercialisation firm’s US operation confirmed it raised $58.6m during the first half of the year, although it had already disclosed $50m of this previously.

IP Group Inc, the US subsidiary of UK-based commercialisation firm IP Group, has revealed it attracted even more funding during the first half of the year. The fundraising was led by a new, unnamed institutional investor in the US. It brought the total capital raised by IP Group Inc during the pandemic to $72m. Only $8.6m of the $58.6m in capital unveiled this week was previously undisclosed. IP Group Inc raised $50m in capital, including $10m from IP Group itself, in February this year. IP Group maintained a majority stake of 61.3% following the February transaction, but it is unclear how much the firm currently holds. IP Group Inc was established to help set up and invest in spinouts from US institutions such as University of Pennsylvania, Yale University, Princeton University, Columbia University, Johns Hopkins University and University of Washington. To date, it has backed 30 technologies, and its portfolio includes companies such as Mobilion Systems, Carisma Therapeutics and Uniformity Labs. Michael Burychka, co-founder and CEO of IP Group Inc, said: “We create breakthrough, world-changing companies based on unique scientific discovery across a broad range of applications such as advanced materials and manufacturing, robotics, photonics, microelectronics, medical diagnostics, sustainability, and many others in the life and physical sciences. “This new capital will be transformational for our business, giving us further momentum to grow our platform, increase our portfolio investments and continue to bring game-changing technology to life. “It also represents a strong validation of our differentiated investment strategy and the ability of our team to deliver results.”

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Thierry Heles

Thierry Heles is the editor of Global University Venturing, host of the Beyond the Breakthrough interview podcast and responsible for the monthly GUV Gazette (sign up here for free).