IP2IPO to buy TTV?

Top Technology Ventures, the independent UK early stage tech investor, is reportedly being sold to incubator fund IP2IPO. The London-based company is expected to be acquired by the end of July. A price has not yet been disclosed.

Managing director and founder of TTV, Henry Fitzgibbons, who has served as a non-executive director of IP2IPO since October 2001 following a TTV investment in the company, has resigned from the board of IP2IPO

IP2IPO, which is located in Oxford, UK, funds university research in exchange for an equity stake in the intellectual property of spin-out companies. It has alliances with the universities of Oxford, Southampton, King’s College London and York. It floated on AIM in October 2003, raising £30m.

Founded in 1996 by Fitzgibbons, TTV now manages two funds: Hambros Advanced Technology Trust III, which has a co-investment agreement with a Danish institution and funds available totalling £25m raised in 1996/7; and Top Technology Ventures IV, which has a similar co-investment arrangement as HATT III and is currently investing funds totalling £17.8m.