RCS - IP Group PLC - First Light announces £25m successful first close

IPAnnouncement

21/04/2026 07:00

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RNS Number : 2047B  IP Group PLC  21 April 2026

 FOR RELEASE ON  21 April 2026

Portfolio company First Light Fusion announces £25m successful first close of
new round with investments from Starmaker One & UKAEA

IP Group plc (LSE: IPO) ("IP Group" or "the Group"), which invests in
breakthrough science and technology companies with the potential to create a
better future for all, notes that portfolio company First Light Fusion Ltd
("First Light" or "the Company") has announced a £25m successful first close
of its latest funding round,

First Light, the UK's inertial fusion energy company, noted the round was led
by UK venture firm East X Ventures and its fusion fund Starmaker One with a
significant strategic investment from the UK Atomic Energy Authority (UKAEA).
It was also supported by existing shareholders including IP Group and our
Hostplus managed fund. Following completion, IP Group has an undiluted
beneficial holding of 28.3% in First Light, with a further 17.3% held via its
managed funds*.

The capital will accelerate the commercial development of First Light Fusion's
groundbreaking FLARE Fusion Energy concept - a novel, reactor‑compatible
approach to Inertial Fusion Energy, aimed at offering a simpler, lower cost,
pathway to fusion energy.

Greg Smith, Chief Executive of IP Group, said: "First Light Fusion continues
to make strong progress as it advances a highly differentiated and
commercially focused approach to inertial fusion energy. The participation of
specialist fusion investors alongside the UK Atomic Energy Authority is a
strong endorsement of both the company's technology and its strategic
relevance to the UK's long‑term energy ambitions. IP Group provides
investors with access to differentiated deep‑science opportunities such as
First Light. We continue to support the company as it accelerates development
of its FLARE concept towards scalable, reactor‑compatible fusion."

*Includes funds managed/advised on behalf of Hostplus.

 

For more information, please contact:

 

 IP Group plc                       www.ipgroupplc.com
 Liz Vaughan-Adams, Communications  +44 (0) 20 7444 0062/+44 (0) 7967 312125
 Portland
 Lewis Bendall-Craft                +44 (0) 7931 973950

 

Notes for editors

 

About IP Group

 

IP Group accelerates the impact of science for a better future. As the most
active UK based, early stage science and technology investor, we develop and
support some of the world's most exciting businesses in healthtech, deeptech
and cleantech. Including through Parkwalk, the UK's largest growth EIS fund
manager, we back world-changing innovation emerging in leading universities
and research institutions. Our specialist investment team combines sector
expertise with an international approach. Together we have a strong track
record of success, having backed high-profile companies including Oxford
Nanopore Technologies plc, Hinge Health, Featurespace, First Light Fusion,
Hysata, and Oxa. IP Group is listed on the Main Market of the London Stock
Exchange under the code IPO.

 

For more information, please visit our website at www.ipgroupplc.com
(http://www.ipgroupplc.com/) .

 

ENDS

 

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