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28 Jul 2009 07:00
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SGM
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SIGMA CAPITALΒ GROUP PLC
("Sigma" or "the Group")
Re: Frontier IP Group Plc
Launch and First Closing ofΒ NewΒ University IPΒ InvestmentΒ FundΒ
Sigma, the specialist asset management and advisory group,Β is pleased to announceΒ that its subsidiary, Frontier IP Group Plc ("Frontier IP"), which listed on the PLUS Market in May 2009, has been involved in the successful establishment and First ClosingΒ of a new dedicated private equity fund for investment in intellectual property developed byΒ RobertΒ GordonΒ University,Β Aberdeen.
Frontier IP, which specialises in theΒ commercialisationΒ of university IP,Β has a 25-year partnership agreement in place withΒ RobertΒ GordonΒ UniversityΒ and this new fund will help to accelerate the development of commercial opportunities emerging from the university's research programmes. TheΒ fund, namedΒ RGU Ventures Investment Fund LP ("the RGU Fund" or "the Fund"),Β launches with committed funds at First ClosingΒ ofΒ up toΒ Β£1.1 millionΒ and hasΒ the first right toΒ invest inΒ any spin-out company from the University, across any of its faculties.
Frontier IP andΒ RobertΒ GordonΒ UniversityΒ have respectively invested Β£300,000 and up to Β£800,000 in the Fund at First Closing. In addition, the RGU Fund has securedΒ partnership status with Scottish Enterprise'sΒ Scottish Co-Investment Fund.Β Β This means that the Scottish Co-investment Fund may invest alongside the RGU Fund in individual university spin-out companies, matching, subject to other criteria, pound-for-pound investmentsΒ made by the Fund and thereby potentially doubling the total funds available to Β£2.2m.
The University has a strong research base and particular strength inΒ energy, environmental technologies and healthcare. The Fund will consider any sector where there is a clear and defensible intellectual property baseΒ and it is expected thatΒ itsΒ portfolio will beΒ broadlyΒ spread across a range of technology and life sciences companies,Β reflectingΒ the patentable research base withinΒ RobertΒ GordonΒ University.
Sigma's subsidiary, Sigma Technology Management Limited, will initially act as manager of the Fund, as part of its services management agreement with Frontier IP, with Frontier IP Limited assuming this role once it has received approval to do so from the Financial Services Authority. The Fund canΒ remain open toΒ newΒ investors for aΒ further two years.
Graham Barnet,Β Chief Executive OfficerΒ ofΒ Sigma,Β commented,
"Robert GordonΒ UniversityΒ has a strong reputation as a centre of research and innovationΒ and weΒ are delightedΒ that our subsidiary, Frontier IP,Β which has a 25-year partnership agreement in place with the university, has been involved with the successfulΒ establishment ofΒ this new fundΒ to support the development of such cutting-edge technologies.Β
It isΒ alsoΒ particularly pleasing that, in addition to the investment from Frontier IP andΒ RobertΒ GordonΒ University,Β partnership status with the ScottishΒ Enterprise's ScottishΒ Co-Investment FundΒ has been achieved."Β
For further information please contact:Β
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Sigma Capital Group plc |
T: 0131 220 9444 |
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Graham Barnet, Chief ExecutiveΒ |
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Biddicks |
T: 020 7448 1000 |
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Katie Tzouliadis/Β Sophie Lane |
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Arbuthnot Securities |
T: 020 7012 2000 |
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Tom Griffiths/ Neil Kirton |
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