What’s delightful is that they had an investor meeting yesterday and didn’t mention any problems with any of the funds investments.
This is the 2nd one that’s folded, the other was some company in Lancaster that stopped operations but HGEN still hold its patents as an asset.
The other news from yesterday was that HGEN divested from a company, about £3m I think, and that gives the fun around 12 months of runway/operations. No idea what the ROI on that was or if they just tapped out of it because they needed the money for running costs.
There are a couple of companies in its portfolio that I think will still do well but who knows on what timescale.
The two chaps that run the investor meetings are always keen to point out that they don’t invest in early stage companies, rather the fund invests in established and growing companies. Supposedly.