IP Group was founded in 2001 and is listed on the main market of the LSE. It invests in companies underpinned by IP and scientific innovation, across HealthTech, DeepTech, CleanTech. Investments are sourced via partnerships with universities (including Oxford, Cambridge, Imperial and UCL), research institutions and other networks. The on-balance-sheet portfolio value is>£0.9bn, with >£0.5bn managed for 3rd parties. The portfolio has produced 4 unicorns and realised >£1.1bn.

07 May 2026

Chair Designate is Michael Queen, ex CEO of 3i

Chair appointment: IP Group has appointed Michael Queen (ex‑CEO of 3i) as Chair Designate, succeeding Sir Douglas Flint on 18 June 2026, adding deep private‑equity, venture and policy experience.

NAV vs share price: Group NAV at 31 Dec 2025 was 110p per share; the 64p share price implies the unquoted portfolio is valued at 42p, a 52% discount to its 88p NAV.

Exits momentum: Portfolio companies are maturing, with £183m realised in 2024, £68m in 2025, and c.£180m targeted by end‑2027, providing near‑term validation potential.

Upside optionality: Further NAV upside could come from royalty income tied to Pfizer’s next‑gen obesity drugs (subject to approvals); successful exits and/or approvals could narrow an arguably irrational discount.

Download as a PDF file

Return to IP Group

Register to be first

Get research on the companies that interest you straight to your inbox

Equity Development is a partner to successful companies looking to enhance their investor relations. Our top-rated analysts produce best in class investment research. Based in London, UK, we help our clients connect with investors via presentations and interviews.

Equity Development Limited 3rd Floor, 80 Cheapside, London, EC2V 6EE

Website design & development by Breckenridge