IP Group PLC on Wednesday said it has launched Kiko Ventures, which will invest an additional £200 million in the ‘clean technology’ sector over the next five years.
Kiko Ventures, which is fully owned and funded by IP Group, is a ‘cleantech venture investor’, the FTSE 250 firm said.
IP Group said that under the Kiko platform it plans to invest £200 million into new and existing companies over the next five years. This will build on IP Group’s existing cleantech portfolio, which is valued at £175 million, and bring the new platform’s total value to £375 million, it said.
The London-based firm said that global investment in cleantech reached an all-time high of $40 billion in 2021, and events during 2022 have further increased momentum for sustainable technologies. With an ‘increasingly urgent’ solution required to counter the damaging impacts of climate change, there has been a ‘resurgence’ of climate tech investment across the world, it explained.
Chief Executive Greg Smith said: ‘IP Group has a successful history of identifying and commercialising impactful technologies which address the major challenges facing the world. Our highly experienced team have dedicated their careers to climate tech and we believe that, consistent with our strategy of deeper thematic focus, a dedicated platform in the cleantech space will help accelerate our efforts in this area and deliver returns for shareholders alongside impact for society.’
Shares in IP Group were down 2.2% to 70.55 pence each in London on Wednesday morning.
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