DFJ Esprit, the European branch of venture capital firm Draper Fisher Jurvetson, has agreed to acquire the portfolio of TTP Ventures, the strategic investment arm of UK-based technology consultancy TTP Group, for an undisclosed sum.
According to its website, the £34m ($53.8m) TTP Ventures investment fund has 10 companies in its portfolio, including power conversion component maker Cambridge Semiconductor, respiratory disease treatment developer Pulmagen Therapeutics and display technology maker DisplayData.
David Tate, a partner at DFJ Esprit, said: “The TTP Ventures portfolio has had some notable successes but as a 1999 vintage fund it had limited time or capacity left to see its remaining portfolio companies through to maturity.
“With a new time horizon and further investment we can take Displaydata, Pulmagen and others on to exit.”