Wealth Manager - the site for professional investment managers

Register to get unlimited access to all of Citywire’s Fund Manager database. Registration is free and only takes a minute.

Woodford & Invesco back venture capitalist's £150m fundraising

Woodford & Invesco back venture capitalist's £150m fundraising

Both Neil Woodford and his former employer Invesco Perpetual have lent their support to Imperial Innovations, a business incubator seeking to raise up to £150 million.

Invesco Asset Management owns 42.7% of the firm, principally through funds now managed by Citywire AAA-rated Mark Barnett, while Woodford Investment Management holds 2.9% through its St James’s Place mandate.

Imperial Innovations confirmed that the two had given ‘irrevocable undertakings’ to back the fundraising, which will be used both to support existing investments and to make new investments.

‘It is gratifying that our core shareholders have evidenced their support for this proposed fundraising by giving irrevocable undertakings to vote in favour of the resolutions needed to enable the placing to proceed,’ commented Martin Knight, the group’s chairman.

Imperial Innovations enjoyed recent success with the flotation of allergy specialist Circassia Pharmaceuticals, which raised over £200 million and is still held by Barnett.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Brewin's Gutteridge: the opportunities in UK challenger banks

Brewin's Gutteridge: the opportunities in UK challenger banks

In this week's podcast, Brewin Dolphin's Ben Gutteridge and Guy Foster, discuss opportunities in the global financials sector with Aptus' Johnny De La Hey.

Play Charles Tan on Woodford & hidden trust income gems

Charles Tan on Woodford & hidden trust income gems

Cantor Fitzgerald investment company analyst Charles Tan discusses Woodford Patient Capital and some of the income trusts slipping under the radar.  

Brewin's Foster: the world’s most unconventional monetary policies

Brewin's Foster: the world’s most unconventional monetary policies

In this week's podcast, Guy Foster asks why the world’s biggest economies are pursuing some of the world’s most unconventional monetary policies. 

Your Business: Cover Star Club

Profile: how Close Brothers gave power back to the regions

Profile: how Close Brothers gave power back to the regions

Almost a year into the role, Close Brothers Asset Management head of wealth management Andy Cumming has highlighted three keys areas of focus

Wealth Manager on Twitter