Commercialisation company and tech transfer office of Sheffield University Fusion IP has seen a 26% increase value of its investments.
Simultaneously, the firm announced a £1.2m pre-tax loss, citing a lower net gain on investments, compared to £500k profit from the year before.
Fusion, a subsidiary of commercialisation firm the IP Group, added to its existing agreements with Sheffield and Cardiff over the past year with agreements from the universities of Nottingham and Swansea to assist in commercialisation. It also raised £20m to support both new and current portfolio companies.
David Baynes, chief executive of Fusion, said: “We’re trying to run with our winners. It’s not always about selling. I’d like to see us holding and growing rather than selling out early,” adding, “The current portfolio is maturing pretty nicely. I hope things continue to do well at [portfolio company] Diurnal. Then we’ll look at new companies. We took on five new companies last year and we’ll do a similar number this year.”
