IP Group CEO Greg Smith and CFOO David Baynes talk to Equity Development analyst Paul Bryant as the group marks its 25th anniversary. They discuss how IP Group turns UK university science into globally significant businesses, how it uses its own balance sheet and third-party funds, the royalties it holds on Pfizer's next-generation obesity drugs, emerging holdings to watch, progress towards its £250m realisations target, and what is being done to close the discount to NAV. Chapters 0:00 Introduction 0:30 IP Group at 25: from creating companies to scaling them 4:08 Why invest in IP Group? 5:39 Permanent capital: backing companies across funding rounds 8:12 Third-party capital: Parkwalk, Hostplus and Aberdeen 11:44 IP Group Australia 12:57 How IP Group sources deals 15:48 Backing Oxford Nanopore's founder again 16:29 Who does IP Group compete with? 17:20 Pfizer royalties: the origin story 20:32 Valuing the Pfizer royalties at £152m 22:31 Pfizer royalties: the route to cash 24:14 One to watch: Matter Machine 26:27 One to watch: Genomics 28:26 How IP Group works with its companies 29:48 Using AI across 25 years of investing 30:41 Exits: £156m realised towards a £250m target 33:13 What could drive NAV growth 35:30 Closing the discount: buybacks and capital allocation 38:10 Close Read Equity Development's research on IP Group: https://www.equitydevelopment.co.uk/research/tag/ip-group More from Equity Development: https://www.equitydevelopment.co.uk This video is a marketing communication about IP Group plc, a client of Equity Development. It is not independent research or investment advice.
