Filings at Companies House seem to indicate that he was left with one last option – giving his shares back to the company at nominal value! 132,826,757 stock photos online. Benevolent AI, the tech startup backed by troubled stockpicker Neil Woodford, is set to lose half its value as it announces a major new investment.The London-based firm, which is led by former Facebook executive and government minister Baroness Joanna Shields, has secured a cash injection from Singapore sovereign wealth fund Temasek.It is understood Temasek will take a minority stake in Benevolent AI, giving it a valuation of $1bn (£800m). As of 31 May, Benevolent AI made up just over five per cent of the Equity Income fund, making it Woodford’s fourth largest holding. overview financials documents people operations income. The money from Adarga rolled off in 2018, but it was replaced by revenues from a new subsidiary, Benevolent Cambridge Ltd, which was acquired for £30.7m in … By accessing this page, you agree to the following

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Beleaguered fund manager Neil Woodford could be facing fresh trouble as one of his biggest bets is reportedly braced to suffer a drop in its valuation.London-based tech firm Benevolent AI is said to be raising money at a level well below its $2bn (£1.6bn) valuation, the Sunday Times reported.Benevolent AI, which is led by former Facebook executive and government minister Baroness Joanna Shields, has held talks with a number of large Asian investors, including Singapore’s sovereign wealth fund Temasek, according to the report.The drop in value would mark a fresh blow for Woodford, who has been trying to restore order to his flagship Equity Income fund since trading was suspended last month after investors withdrew billions of pounds.The stockpicker has announced job cuts at Woodford Investment Management’s Oxford headquarters, and has said he will use the suspension to reduce the fund’s exposure to illiquid and unquoted stocks.Woodford has attracted criticism due to his ailing fund’s exposure to private stocks such as Benevolent AI.

This holding is understood to be Benevolent AI.Benevolent AI, which uses artificial intelligence to discover and develop new medicines, raised $115m in a funding round in April and has unveiled a partnership with British pharmaceutical giant Astrazeneca.While the fresh funding will come as a boost for Benevolent AI, the tech startup will be looking to restore value and turn around its fortunes after posting a hefty pre-tax loss of £33m last year.Benevolent AI, Woodford Investment Management and Temasek declined to comment. Read more: Woodford sells shrimp shares on the stock floor The AI firm was previously valued at $2bn, and will only narrowly retain its unicorn status.The revised valuation, first reported by the Sunday Times, will be a further blow for Woodford, who has lost at least £43.5m selling off stocks from his suspended Equity Income Fund.Benevolent AI makes up roughly 4.5 per cent of the Equity Income Fund and just under 10 per cent of Woodford’s Patient Capital Trust, according to data from Hargreaves Lansdown.Last week the Patient Capital Trust warned investors it had written down the value of one of its holdings, denting the net asset value by 4p a share.

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status ... any former individual member of the stock exchange who has in the opinion of the general committee conducted themselves in business in an upright and honest manner during their years of membership. Benevolent AI, the tech startup backed by troubled stockpicker Neil Woodford, is set to lose half its value as it announces a major new investment. As of 31 May, Benevolent AI made up just over five per cent of the Equity Income fund, making it Woodford’s fourth largest holding.A spokesperson for Benevolent AI said: “On the back of its recent Astrazeneca deal and the continued commercialisation of its IP, Benevolent AI is well placed to do a further fundraising in due course.”Woodford Investment Management declined to comment.This field is for validation purposes and should be left unchanged. spending.

I’ve been wondering for a while how Neil Woodford was going to deal with the impending crisis at his flagship Equity Income Fund in relation to the hard, unquoted stock limit of 10% and with all his Get Out of Jail cards used up.

New users enjoy 60% OFF. £947.6k. The former star trader had breached the 10 per cent limit on private holdings in his Equity Income fund on several occasions, according to the report.Woodford has apologised to investors, but defended his strategy of focusing on “undervalued assets”.Benevolent AI uses artificial intelligence to discover and develop new medicines, and recently unveiled a partnership with British pharmaceutical giant Astrazeneca.The tech firm raised $115m in a funding round in April and boasts membership of an exclusive club of so-called unicorn startups with a valuation of more than $1bn.But Benevolent AI posted a hefty pre-tax loss of £33m last year on revenue of £6.8m, and the firm is reportedly at risk of losing its unicorn status after its next funding round.The loss in valuation would be an unwelcome blow for Woodford as he looks to restore investor confidence. £1.2m.

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