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ipgroup FOR RELEASE ON 05 August 2021 ( " IP Group " or " the Group " or " the Company " ) Half - yearly results Strong return , significant cash realisations , capital recycled for growth alongside interim dividend and share buyback IP Group plc ( LSE : IPO ) , the developer of intellectual property - based businesses , today announces its financial results for the six months ended 30 June 2021 . Half - year highlights . Strong Return on Hard NAV¹ of £ 117.9m , or 9 % , ( HY20 : £ 14.2m ; FY20 : £ 189.5m ) • • Hard NAV² of £ 1,439.3m or 135.4 pence per share ( HY20 : £ 1,156.4m or 108.8pps ; FY20 : £ 1,331.5m or 125.3pps ) Cash realisations of £ 111.4m ( HY20 : £ 113.7m ; FY20 : £ 191.0m ) • Sustained investment into portfolio : £ 69.5m into 41 companies ( HY20 £ 36.9m ; FY20 : £ 67.5m ) Interim dividend of 0.48p per share and £ 20m allocated to buying back the Group's shares Portfolio highlights Fair value of portfolio : £ 1,246.4m ( HY20 : £ 1,025.0m ; FY20 : £ 1,162.7m ) • Net portfolio gains of £ 143.1m ( HY20 : £ 34.9m ; FY20 : £ 231.4m ) • • Sales of Inivata Ltd to NeoGenomics , Inc , WaveOptics Ltd to Snap , Inc and Kuur Therapeutics Ltd to Athenex , Inc. Oxford Nanopore announced it has begun preparations for a potential IPO • Total funds raised by portfolio companies : Approximately £ 1.0bn ( HY20 £ 365m ; FY20 : £ 1.1bn ) including Oxford Nanopore Technologies Ltd ( £ 202m ) , Centessa Pharmaceuticals Ltd ( US $ 630m / £ 457m ) , Pulmocide Ltd ( US $ 92m / £ 67m committed , US $ 25m / £ 18m invested ) and MOBILion ( US $ 60m / £ 43m ) ³ Other financial and operational highlights • Net assets £ 1,439.7m ( HY20 : £ 1,156.8m ; FY20 : £ 1,331.9m ) Profit of £ 116.5m ( HY20 : £ 11.7m ; FY20 : £ 185.4m ) • • Strong liquidity with gross cash and deposits at 30 June 2021 of £ 308.9m ( HY20 : £ 245.3m ; FY20 : £ 270.3m ) and Net Cash4 of £ 249.4m ( HY20 : £ 170.5m ; FY20 : £ 203.0m ) North American platform , IP Group , Inc secured additional funding , bringing total raised in H1 to US $ 59m ( £ 43m³ ) • Joint venture formed with China Everbright Ltd to launch first third - party fund in China Alan Aubrey , Chief Executive of IP Group , said : " IP Group has continued to make strong headway in 2021 with much activity in the portfolio . Three companies have been sold for significant returns , one company has floated on Nasdaq and Oxford Nanopore Technologies , our largest holding , has confirmed it is planning an IPO in the second half of the year . The Group has delivered strong financial performance in the first half with a Return on Hard NAV of 9 % and cash realisations of £ 111.4m . As a result , we are following our maiden full year 2020 dividend with an interim dividend and have allocated £ 20m of our capital to commence a buyback of the Group's shares . I am delighted to report that the company is in a strong financial position with Net Cash of £ 249.4m . This financial strength provides important flexibility in the face of uncertainty caused by the ongoing COVID - 19 pandemic and enables us to support our portfolio with scale - up capital alongside co - investors . We continue to be excited by the prospects for the second half of the year including the opportunities our portfolio businesses have from the renewed focus on innovation and sustainability . " Webinar IP Group will host a webinar for analysts and investors today , 10:00 GMT . For more details or to register as a participant please visit www.ipgroupplc.com/events . 1 Return on Hard NAV is defined as the profit for the period , excluding amortisation of intangible assets , share - based payment charge and IFRS3 charge in respect of acquisition of subsidiary ( see Note 9 ) 2 Hard NAV is defined as Total Equity , excluding Other Intangibles ( see Note 9 ) 3 3 Based on a USD / GBP rate of 1.38 4 Net Cash is defined as gross cash and deposits less EIB debt ( see Note 9 ) 1