Within the framework of the EU Initiative JEREMIE, IP Group plc (LSE: IPO), a London, UK-based intellectual property commercialisation company, has won the mandate to manage a £25m North East Technology Fund.
The vehicle, which will be managed by IP Group’s FSA-regulated venture capital fund management subsidiary, Top Technology Ventures Limited, from offices in Newcastle upon Tyne, will invest in technology companies in the North East from seed through to growth stages of development including opportunities from the leading research universities based in the region.
As mentioned above, the fund is part of the £125m venture capital fund, which was set up in the North East region within the framework of JEREMIE (Joint European Resources for Micro to Medium Enterprises Initiative).
FinSMEs
01/02/2010