RCS - IP Group PLC - Portfolio company Ultraleap raises £60 million

IPAnnouncement

17/11/2021 14:10

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20211117:nRSQ7126Sa&default-theme=true

RNS Number : 7126S  IP Group PLC  17 November 2021

 FOR RELEASE ON  17 November 2021

 

IP Group plc - Portfolio company Ultraleap raises £60 million in Series D
fundraise

 

IP Group plc (LSE: IPO) ("IP Group" or "the Group"), the developer of
intellectual property-based businesses, is pleased to announce that Ultraleap
Holdings Ltd ("Ultraleap" or "the Company"), the world leader in interface
technologies, announced it has completed a £60 million Series D round of
investment.

 

The funds raised will enable Ultraleap to further develop and commercialise
its technologies for existing and next generation computing platforms. Tencent
led the round and is joined by new investors including British Patient Capital
through their Future Fund: Breakthrough and CMB International. Existing
investors IP Group and Mayfair Equity Partners also supported the round.

 

As previously noted in our half-yearly results announced in August, IP Group
committed £2.5m to the fundraise and reflected a £11.6m* fair value uplift,
resulting in a closing investment value of £34.9m. Following completion of
the fundraise, IP Group has an undiluted beneficial holding of 17.2% in
Ultraleap.

 

Dr Mark Reilly, Managing Partner of Technology at IP Group plc, said:
"Following on from our success with Wave Optics earlier this year, Ultraleap
is another ground-breaking IP Group portfolio company in the field of Extended
Reality (XR), Out of Home and Automotive. The new funding will enable
Ultraleap, a company we have supported since inception, to cement its place as
one of the defining pioneers in this exciting interface sector. We are
delighted to see additional new blue chip investors join the register."

 

*Of the fair value movement noted above, £2.2m is attributable to the
third-party limited partner in the consolidated fund, IP Venture Fund II L.P.

 

For more information, please contact:

 

 IP Group plc                                             www.ipgroupplc.com (http://www.ipgroupplc.com)
 Liz Vaughan-Adams, Communications                        +44 (0) 20 7444 0062/+44 (0) 7979 853802
 Charlotte Street Partners
 David Gaffney                                            +44 (0) 7854 609998
 Andrew Wilson                                            +44 (0) 7810 636995

 

Notes for editors

 

About IP Group

 

IP Group is a leading intellectual property commercialisation company which
focuses on evolving great ideas, mainly from its partner universities, into
world-changing businesses. The Group has pioneered a unique approach to
developing these ideas and the resulting businesses by providing access to
business building expertise, capital (through its 100%-owned FCA-authorised
subsidiaries IP Capital and Parkwalk Advisors), networks, recruitment and
business support. IP Group has a strong track record of success and its
portfolio comprises holdings in early-stage to mature businesses across life
sciences and technology. IP Group is listed on the Main Market of the London
Stock Exchange under the code IPO.

 

Group holdings in portfolio companies reflect the undiluted beneficial equity
interest excluding debt, unless otherwise explicitly stated.

 

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

 

About Ultraleap

 

Ultraleap's world-leading hand tracking and unrivalled mid-air haptic
technologies allow you to engage with the digital world naturally - without
touching surfaces. No touchscreens. No controllers. No keypads. No surfaces.
From enhancing 2D screens to developing fully immersive 3D experiences,
Ultraleap powers natural, safe, and effortless digital interaction in the
increasingly connected world.

Ultraleap employs more than 150 people across Europe, North America and Asia.
It has become the first to offer the full vertical stack of software and
hardware to enable spatial computing for the XR, out-of-home (OOH) and kiosks
and automotive sectors.

www.ultraleap.com (http://www.ultraleap.com)

ENDS

This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

Reach is a non-regulatory news service. By using this service an issuer is confirming that the information contained within this announcement is of a non-regulatory nature. Reach announcements are identified with an orange label and the word “Reach” in the source column of the News Explorer pages of London Stock Exchange’s website so that they are distinguished from the RNS UK regulatory service. Other vendors subscribing for Reach press releases may use a different method to distinguish Reach announcements from UK regulatory news.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  NRAGPGCUGUPGGCM