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| TIDM | INOV |
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Schroders Capital Global Innovation Trust plc (INOV) announced that its Salica Environmental Technology Fund (SETF) completed the sale of its portfolio company, Bluewater Bio Limited, to a European PE backed strategic acquiror. This exit is part of INOV's ongoing asset sale and wind-down process, which commenced in February 2025 after shareholder approval in 2025, and is due to result in a £6.5 million distribution to INOV from its ~5% holding. The transaction generated a total multiple of invested capital from SETF of 2.8x.
| Date | 20 Jan 2026 |
| Time | 07:00:03 |
| Category | Disposals |
| ID | 4971P |
Schroders Capital Global Innovation Trust plc
Sale of Bluewater Bio Limited
Schroders Capital Global Innovation Trust plc (the "Company" or "INOV") is pleased to announce that its holding of the Salica Environmental Technology Fund ("SETF"), previously HP Environmental Technologies Fund LP ("HPET"), has completed the sale of its underlying portfolio company, Bluewater Bio Limited ("Bluewater Bio") to a European PE backed strategic acquiror. The expected distributions from the exit are in line with the valuation indicated in the Company's Q3 2025 NAV and, subject to confirmation of timing, the Manager does not expect the transaction to result in any material change to the Company's most recently published NAV.
In December 2020, the Portfolio Manager structured an option to allow the Company to retain exposure to the underlying portfolio of Ombu Group Limited ("Ombu") and its future value creation potential, whereby the Company elected to contribute its shareholding in Ombu in return for a partnership interest in HPET.
This latest sale is part of the ongoing process of selling the assets and wind down of the Company that began in February 2025. It is the Board's intention to make a further return of capital to shareholders later this year, reflecting the realisations, including this one, up to that point. To receive email notifications from the Company in relation to distributions of capital to shareholders, please register using the following link: https://www.schroders.com/inovcomms
All unquoted holdings, including the impact of this transaction, will be reviewed and finalised as part of the Company's FY25 Annual Report and Accounts.
Tim Creed, Lead Portfolio Manager, and Harry Raikes, Co-Portfolio Manager commented: "We would like to congratulate the management teams at Bluewater Bio and Salica on this transaction. The acquisition represents one of the final exits from SETF generating a total multiple of invested capital from the fund of 2.8x, with the potential to increase to 2.9x with the full impact of potential earnouts. As a ~5% holding, this exit is a significant realisation event for INOV, with a distribution of £6.5m due to the Company as part of the wind down approved by shareholders in 2025."
Enquiries:
Schroder Investment Management Limited
Francesca Davis / Katherine Fyfe (Company Secretary) 020 7658 6000
Charlotte Banks / Kirsty Preston (PR) 020 7658 6000