IP Group has hurried to diversify risk from its biggest asset, Oxford Nanopore, a company that cannot make its technology work but whose valuation has been bloated by successive rounds of investment. Now, facing cash shortages, the company looks to be on the precipice of a major devaluation if not failure. That single company could drag down IPO’s price by 20%.IP Group is an accounting game more than a company and has an atrocious track record of delivering bankable returns.Private investors in IP Group share a collusive interest in creating high paper values for tech concept companies that generally fail. We think the company is worth half its posted value at best.

‣The echo chamber: We continue to believe that IP Group and its group of related investors pump up valuations in order to support excessively high cash burn. A private group would without hesitation kill off these failing investments.