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19 April 2017

OSI hires stockbroker Numis

Corporate and government venturing firms-backed Oxford Sciences Innovation has retained stockbroker Numis as a financial adviser.

Author: Chris Winters, reporter

Oxford Sciences Innovation (OSI), the university venturing fund of Oxford, has hired UK-based stockbroker and corporate advisor Numis, according to the Evening Standard.

OSI will use the broker to raise funds from investors and develop its portfolio of 36 spinouts, including therapeutic drug company Orbit Discovery, gas and liquid valve manufacturer Oxford Flow and smart material company Bodle Technologies.

Numis will be paid an undisclosed fee to act as a retained financial adviser for OSI.

Launched in 2015, OSI raised £320m ($411m) in its first year, with the backing of GV, the corporate venturing arm of conglomerate Alphabet, commercialisation firm IP Group, Oxford University Endowment Management, charity Wellcome Trust and Singapore’s sovereign wealth fund Temasek.

The fund then raised an additional £230m late last year from Oxford University Endowment Management, IP Group, Wellcome Trust, Woodford Investment Management, Lansdowne, Invesco Asset Management, and rivate investors Charles Dunstone and Dennis Hassabis.

Temasek and Oman Investment Fund, the government venturing arm and Oman, as well as unnamed Asia-based technology companies and Europe-based investors have injected cash into the fund also contributed to the extension.

Alex Ham, co-chief executive of Numis, said: “People start talking to investment banks leading up to a flotation but we think we can do a lot more for companies in the meantime with private placements and more strategic work.

“The depth of capital in the private markets is getting deeper and more liquid. That is allowing private companies to stay private for longer.”

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