Venture: Mid Cap Venture Capital
![Venture: Mid Cap Venture Capital](/content/images/size/w1200/2023/11/venture-research-banner-1.jpg)
Issue 9;
Significantly undervalued VC Portfolio.
IP Group (IPO)
I last recommended IPO in Whisky at 69.5p in July 2020 and sold it a year later for 114p. We may do even better this time. The recently updated analysts’ forecast from Berenberg and Numis is 133p, and if correct, this is dirt cheap with an implied 164% upside. This follows on from recent recommendations for undervalued diversified portfolios in Soda.
IP Group is Dirt Cheap
![](https://www.bytetree.com/content/images/2023/11/2023-11-16-venture-9-1.png)
IPO has a diversified portfolio of companies split across life sciences, deeptech and cleantech. Their ideas are generated from universities, which they help to commercialise.
They just announced that one of their companies, Autifony, has signed a deal worth up to $770 million with Jazz Pharma. It is a reminder that some of their assets are hugely valuable, and this is an opportunity to acquire a diversified portfolio at a knockdown price. Company insiders have been net buyers for the past two years.
Risk
This is a diversified portfolio. Market liquidity is the main reason for the slump, and with the shares trading just £600k per day, it is unsuitable for Whisky. Sooner or later, liquidity will recover, and the price will rise. It is one for the patient. I deem this to be medium to high risk.
Venture Update
Nice to see the stocks looking perkier following the recent inflation data. Small and mid-caps stand a much better chance of success than mainstream large caps. TIG just reported good results. I reiterate BUY.
![](https://www.bytetree.com/content/images/2023/11/2023-11-16-venture-9-2.png)
Please let me know your thoughts by emailing me at charlie.morris@bytetree.com or tweeting me @AtlasPulse.
Many thanks,
Charlie Morris
Editor, Venture
Venture is issued by ByteTree Asset Management Ltd, an appointed representative of Strata Global which is authorised and regulated by the Financial Conduct Authority. ByteTree Asset Management is a wholly owned subsidiary of CryptoComposite Ltd.
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