Shares in Tekcapital, an investor and tech transfer office targeting the intellectual property in British universities, jumped more than 10% on Monday after it reported its portfolio value grew by over a third in 2024.
The London-listed group’s portfolio holdings rose 38% to $64.2m (£50.9m) last year, in a promising sign for the value of UK universities’ research.
The investor currently has five portfolio companies and as of February 2025, four have been floated, after the recent listing of generative AI company GenIP and low sodium salt substitute maker MicroSalt on AIM.
Its remaining private company, autonomous vehicle software group Guident, is preparing to list on the NASDAQ later this year.
“This year in review offers a snapshot of Tekcapital plc’s 2024 performance. The story is one of profitability, strategic foresight, and a portfolio well suited in our view to helping address several pressing global needs,” said chairman Dr Clifford M. Gross.
“Tekcapital’s success in 2024 is a testament to its portfolio companies’ strategic positioning and relevance.”
Tekcapital shares rose 11% at the opening of the markets on Monday, reaching 10.5p.
University spinout companies have been identified by the government as a major source of growth in the tech sector and were the subject of a state-sponsored review back in late 2023.
The review called for greater collaboration between tech transfer offices and urged universities not to take excessive equity in their spinouts.
The review’s co-author Dr Andrew Williamson, managing partner of Cambridge Innovation Capital, said in November that since the publication, the “myopic focus on equity splits” from stakeholders had largely been “put to bed”.
The first half of 2024 saw university spinout companies in Britain raise £1bn.
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