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IP Group unveils Chinese growth capital fund
StockMarketWire.com
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IP Group is launching a growth capital fund in partnership with China Everbright, a Chinese asset manager.
The £167 million fund will be used to provide growth capital to China-based subsidiaries of IP Group's UK portfolio companies.
This strategy will invest an initial £56 million this year, with an increase to £167 million over the next three years.
It will be managed from the IP Group side by Dr Lewis Zhenyu Liu and Joyce Dan Xie, both managing directors of IP Group Greater China.
IP Group CEO Alan Aubrey said: 'This joint venture is consistent with our stated strategy of working with high-quality partners to provide our companies with access to expertise, network and capital.'
At 1:05pm: (LON:IPO) Ip Group PLC share price was 0p at 84.8p
Story provided by StockMarketWire.com
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