Imperial Innovations, which is listed on the Alternative Investment Market (AIM), has seen its full year investments rise from £35.1 million in 2011 to £37.9 million.

The number of companies it has backed has also risen, form 23 to 29, with 11 coming from companies associated with, or based on, research from the UK’s four leading universities.

Its portfolio companies raised a total of £147 million in cash and investment commitments, up from £129 million in 2011.

Martin Knight, chairman of Imperial Innovations, says that the past financial year has been one of good progress.

‘We are proving that our business model is sound; that our pipeline of opportunities from the UK’s leading research intensive universities is full of promise; and that our portfolio of investee companies, particularly our larger holdings, has developed well, in line with our expectations,’ he adds.

Imperial Innovations says that the capital it has invested in the last year is the most committed in any financial year.

Knight says, ‘It is worth noting that some £94.2 million has been invested by us in our top 15 investee companies. Some of these are significant businesses in their own right, far removed from the “spin-out” tag.’

Investments in the past year for Imperial have included the backing of biotechnology business PsiOxus Therapeutics by way of a contribution to a £22 million round.

Other transactions include an investment made into Econic Technologies in February and the pooled £3.6 million backing of data storage business Acuna in September.

‘We are committed to building substantial businesses based on intellectual property emanating form the UK’s leading research intensive universities. We are not investors distracted from this goal by one eye permanently on the door market “exit”,’ Knight adds.