Neil Woodford has sold his stake in Bristol-based unquoted holding Ultrahaptics for a significant profit, as he continues to re-position his gated LF Woodford Equity Income fund, according to reports.
Woodford owned around 20% in the hardware provider, which allows users to feel and interact with virtual objects, having helped lead a funding round that spun the company out of the University of Bristol, The Telegraph reports. Why are more retail clients turning to private equity investments? Woodford invested around £10m in the company around four years ago during its Series A fundraising, according to the report. Ultrahaptics' most recent funding round saw it raise an extra £35m and was led by Mayfair Equity Partners in December 2018. Mayfair has since snapped up Woodford's full...
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