Business
Portfolio co Hinge Health completes $400m round
Portfolio co Hinge Health completes $400m round.
About this update from Ip Group Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 7727Q\n IP Group PLC\n 29 October 2021\n \n \n \n \n \n \n \n \n FOR RELEASE ON\n \n \n \n \n 29 October 2021\n \n \n \n \n \n \n \n \n \n IP Group plc - Portfolio company Hinge Health completes $400m (£290m*) funding round, valuing the Company at $6.2bn (£4.5bn*)\n \n \n \n \n \n IP Group plc (LSE: IPO) (\"IP Group\" or \"the Group\"), the developer of intellectual property-based businesses, notes that portfolio company Hinge Health, Inc (\"Hinge Health\" or \"the Company\") has completed a $400m Series E financing, valuing the Company at $6.2bn (£4.5bn*).\n \n \n \n \n \n The round was led by Tiger Global and Coatue Management with Alkeon and Whale Rock acquiring ownership as part of a $200m secondary investment. Following completion of the investment round, IP Group has an undiluted beneficial holding of approximately 1.8% in Hinge Health, valued at £62.8m*.\n \n \n \n \n \n As announced on 25 October 2021, IP Group has \n recorded a net realised and unrealised fair value gain of approximately £27.5m* or 2.6p per share.\n \n In addition, the Group took the opportunity to realise a modest proportion of its holding, generating net proceeds of approximately £9.4m**.\n \n \n \n \n \n \n \n \n *GBP equivalent using 1.38 USD/GBP\n \n \n **Net proceeds and fair value gains are quoted net of the Group's long-term incentive carry scheme ('LTICS'). \n \n \n \n \n \n For more information, please contact:\n \n \n \n \n \n \n \n \n \n IP Group plc\n \n \n \n \n \n www.ipgroupplc.com\n \n \n \n \n \n \n \n Liz Vaughan-Adams, Communications \n \n \n \n \n +44 (0) 20 7444 0062/+44 (0) 7979 853802\n \n \n \n \n \n \n Charlotte Street Partners\n \n \n \n \n \n \n \n \n \n David Gaffney\n \n \n \n \n +44 (0) 7854 609998\n \n \n \n \n \n \n Andrew Wilson\n \n \n \n \n +44 (0) 7810 636995\n \n \n \n \n \n \n \n \n \n Notes for editors\n \n \n \n \n \n About IP Group\n \n \n \n \n \n IP Group is a leading intellectual property commercialisation company which focuses on evolving great ideas, mainly from its partner universities, into world-changing businesses. The Group has pioneered a unique approach to developing these ideas and the resulting businesses by providing access to business building expertise, capital (through its 100...