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.
Your Business: Cover Star Club

Profile: BRI plots growth via orphaned clients

Profile: BRI plots growth via orphaned clients

BRI Wealth Management hopes to capitalise on larger rivals’ inability to service smaller clients in the face of margin & regulatory pressure

Wealth Manager on Twitter