No direct deposits or credit facilities with SVB

RNS Number : 6663S

IP Group PLC

13 March 2023

 

FOR RELEASE ON

13 March 2023

IP Group - Confirms no direct financial relationship with SVB

IP Group plc (LSE: IPO) ("IP Group" or "the Group" or "the Company"), which invests in breakthrough science and innovation companies with the potential to create a better future for all, confirms that it has no direct deposits, credit facilities or other relationships with Silicon Valley Bank or SVB UK.

As announced last week, IP Group has a strong balance sheet and as at 31 December 2022 had gross cash and deposits of £241.5m and total potential liquidity (including quoted shares and undrawn debt) of over £500m.

While we continue to monitor the response to the situation, we have evaluated our portfolio and are working closely with the small number of portfolio companies that may require short term liquidity. Our strong financial position means we are well placed to support our portfolio.

For more information, please contact:

IP Group plc	www.ipgroupplc.com
Greg Smith, Chief Executive Officer David Baynes, Chief Financial and Operating Officer Liz Vaughan-Adams, Communications	[phone] [phone]/[phone]
Portland
Vic Wallin Alex Donaldson	[phone] [phone]

Notes for editors

About IP Group

IP Group  accelerates the impact of science for a better future. As  the  most active  UK based,  early stage science investor ,  we develop and support some  of th e world's  most exciting   businesses in deeptech, life sciences and cleantech (led by Kiko Ventures). Through Parkwalk, the UK's largest growth EIS fund manager, we also back world-changing innovation emerging in leading universities and research institutions. Our specialist investment team combines sector expertise with an international approach. Together we have a strong track record of success, having backed high-profile companies including Oxford Nanopore Technologies plc, First Light Fusion, Hysata, and Oxbotica. IP Group is listed on the Main Market of the London Stock Exchange under the code IPO.

For more information, please visit our website at www.ipgroupplc.com .

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