Touchstone Innovations

Touchstone Innovations plc, formerly known as Imperial Innovations Group plc, was a prominent technology commercialization and investment firm based in London, United Kingdom. Spun out of Imperial College London, the company's core mission was to identify, create, build, and invest in early-stage technology companies emerging from leading UK universities, with a particular emphasis on Imperial College's intellectual property. Touchstone Innovations played a pivotal role in bridging the critical gap between groundbreaking academic research and market-ready commercial ventures, primarily focusing on deep technology, life sciences, and physical sciences sectors. The firm ceased independent operations upon its acquisition by IP Group plc in November 2017, in a deal valued at approximately £474 million (around $616 million USD).

Prior to its acquisition, Touchstone Innovations employed a comprehensive investment strategy that involved providing both capital and significant commercial expertise. The firm was known for its long-term investment horizon, often participating in multiple funding rounds for its portfolio companies, ranging from initial seed investments to later growth stages. While specific first cheque sizes varied based on the stage and needs of the venture, their typical initial investments could range from several hundred thousand pounds for very early-stage seed rounds to several million pounds for Series A investments. For instance, the firm once invested £1.2 million (approximately $1.56 million USD) in a £2.4 million Series A funding round, and on another occasion, led a £10.5 million (approximately $13.65 million USD) Series A investment, demonstrating their capacity for substantial capital deployment.

Beyond capital, Touchstone Innovations adopted a highly hands-on approach, offering strategic guidance, assisting with management team recruitment, and providing robust business development support to its portfolio companies. This integrated model was designed to mitigate risks inherent in early-stage deep tech ventures and accelerate their journey from lab to market. Their diverse portfolio encompassed innovations in therapeutics, medical devices, advanced engineering, and digital technologies. The consolidation with IP Group plc represented a significant event in the UK's university spin-out ecosystem, integrating Touchstone's valuable portfolio and specialized expertise into a larger entity dedicated to the continued commercialization of university intellectual property.