IP Group, a commercialisation firm based in the UK, started its planned £128m ($193m) fundraising, following shareholder approval.
The firm is issuing 56,888,888 shares at 225p per share for the round.
The money will be used to capitalise on a year of strong growth at the firm, and to further fuel the company’s expansion into the US.
Alan Aubrey, CEO of IP Group, said: “We are delighted to announce the successful completion of the capital raise. This leaves the Group well positioned to continue to accelerate its growth by increasing our overall rate of capital deployment into the existing portfolio as well as into new early stage opportunities, both in the UK and the US.”
