- IP Group, a developer intellectual property-based businesses, said Monday its portfolio company Featurespace had completed a £25.0m fundraising.

Featurespace, a provider of adaptive behavioural analytics for fraud detection and risk management, would use the funds to support international expansion and continued development of its software capabilities.

The round was led by Insight Venture Partners, a New York-based global private equity firm focused on high-growth investments in the technology sector.

Following completion, IP Group's direct undiluted beneficial stake of 23.9% in Featurespace was valued at £29.3m, representing a direct gain to IP Group of £9.6m compared with the last round.

IP Group had committed £4.1m to the fundraising.

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