Qinetiq, Coller Capital launch Qinetiq Ventures
New technology venture fund to accelerate the development and realization of seven of Qinetiq’s venture investments
Farnborough, Hampshire, U.K.-based Qinetiq has creatied Qinetiq Ventures, a new technology venture fund to accelerate the development and realization of seven of its venture investments. The fund has been launched by Qinetiq and London-based Coller Capital, an investor in corporate venture assets. The fund will be structured as a Limited Partnership (LP) and will be managed by an independent investment manager. It will have initial assets of £40 million. Qinetiq and Coller Capital will each contribute up to £20m of follow-on funding further to develop the fund’s portfolio companies. Depending on the performance of the fund, Qinetiq will own up to 75 percent of future economic value.
The new fund’s portfolio will consist of partial or wholly owned interests in seven venture assets. Qinetiq’s core venture businesses, however — for example, Qinetiq Airport Technologies, with its Tarsier runway debris detection system, and the high-sensitivity GPS business
