Fusion IP is raising £5.01m gross at 28p a share via a placing with new and existing shareholders.
The cash will be used to finance existing and new investments until cash is raised from the trade sales or flotations of existing investee companies. Fusion IP still had £1.96m in the bank at the end of July 2011.
IP Group took a 19.7% stake in Fusion IP in 2009 at a cost of 27p a share.
Fusion IP has exclusive rights to the commercialisation of research generated by The University of Sheffield and Cardiff University. Fusion IP has investments in more than 20 companies with their origins in these universities. These stakes and related loans were valued at £16.8m at the end of July 2011.
At 39p a share, up 0.5p, Fusion IP is valued at £21.1m. The company had a net asset value of £27.2m at the end of July 2011.
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