Fusion targets more spin-outs

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Fusion IP, the Sheffield-based university spin-out funding specialist, says it is focusing on growing its portfolio after raising £20 million and signing new agreements with Nottingham and Swansea Universities.

The company, originally set up to commercialise Sheffield University spin-outs, says the value of its investments has increased by 26 per cent to £25 million and it has added five new start-ups to its portfolio of businesses.

Fusion also completed its first exit, selling its interest in Sheffield-based Simcyp and securing a 200-fold return on its investment.

Chairman and past Master Cutler Doug Liversidge said: “It is well acknowledged that the UK needs to maximise the commercial benefit of the extraordinary science that emanates from its world-class universities.

“We believe that Fusion, with its access to some of the UK’s leading research-intensive universities, is well placed to generate some of the high technology growth businesses of the future.

“Our priority in the year ahead is therefore to continue to focus on the growth of the portfolio.”