Fusion IP is set to use its Alternative Investment Market (AIM) listing to raise fresh funds for investments in UK universities.

As well as outlining a placing to raise £20 million, Fusion IP has also signed agreements with two new academic institutions. The University of Nottingham and Swansea University are said to complement Fusion IP’s existing equity-based university agreements by providing it with access to IP.

The new funding, the investment firm says, will allow it to extend its investments in existing portfolio companies as well as backing new start-up companies created under the existing agreements with its universities.

David Baynes, CEO of Fusion IP, comments, ‘We are very pleased to announce this significant addition investment in the company, in a funding round which includes all our current institutional shareholders, as well as adding a number of new institutions.

‘Nottingham is one of the UK’s top 10 research-intensive universities, with centres of excellence in aerospace, advanced manufacturing, energy and biomedical imaging.’

According to a statement, Fusion IP had cash of approximately £4 million at the end of January 2013 and does not expect any material changes to the value of its portfolio in the first six months of the year.

Recent investments for Fusion IP include the ones made into Asalus Medical Instruments in January, and the November 2012 backing of University of Sheffield spin-out Magnomatics alongside IP Group.

Doug Liversidge, chairman of Fusion IP, adds, ‘The management team has done an excellent job in growing Fusion into one of the leading IP commercialisation companies in the UK and the proposed placing and [university] agreements cement this position.’