IP Group banks £15m from portfolio sales to fuel buyback program

London-based IP Group, a listed tech investor, announced a successful sale of shares from nine portfolio companies, raising £15 million. The sale, which was conducted at a small premium to earlier valuations, signifies the Group's strategical focus on increasing its share buyback program. IP Group has allocated all cash received to the buyback initiative, increasing the total buyback spend to £45m. The group believes its current share price undervalues its portfolio. With a strong track record of realizing cash from exits, IP Group has garnered £57 million in cash from disposing its assets since the start of the year, marking a 50% increase over 2023 levels. Additionally, IP Group anticipates another influx of £134 million from the expected sale of Featurespace, acquired by Visa in September. As of November 30, 2024, the company declared gross cash and deposits of £176 million and holdings in listed companies valued at £167 million, constituting around 80% of its market capitalization.