Investment firm signs deal to help spin-offs

Imperial College, London, has signed a £20 million deal with an investment company aimed at accelerating the development of its spin-off companies.

The deal with Nikko Principal Investments means that the company will get the opportunity to co-invest in the college's spin-off companies at an early stage.

Nikko will give £2 million to the college's seed-corn fund, with the remainder of the money being used for investments alongside other external investors in later-stage financing rounds.

Imperial is creating one spin-off company a month. It has 53 such companies, two of which are publicly quoted and 15 of which have received venture capital.