Former Centrica boss Conn in frame to chair IP Group

A erstwhile brag of Centrica, the proprietor of British Gas, is among the candidates being considered to seat IP Group, the early-stage subject investor.

Sky News has learnt that Iain Conn, who spent a decennary successful elder roles astatine BP, is 1 of a tiny fig of contenders to regenerate Sir Douglas Flint.

City sources said a determination was expected to beryllium made by IP Group's committee astir its adjacent president earlier the extremity of the year.

Money latest: What involvement complaint clasp means for you

Mr Conn near Centrica successful 2020 aft 5 years successful the apical job.

IP Group has backed companies including HInge Health, which precocious floated successful New York, and London-listed Oxford Nanopore.

Last year, it benefited from a important payout for its involvement successful Featurespace pursuing its £700m merchantability to Visa.

The London-listed company's portfolio besides includes stakes successful companies specified arsenic First Light, a atomic fusion specialist.

This week, it announced half-year results disclosing chapeau it referred to "funding delays and pricing unit for Oxa and Artios", successful which it said the worth of its holdings had declined by much than £35m.

IP Group's shares were trading astatine astir 53p connected Thursday afternoon, giving the institution a marketplace capitalisation of astir precisely £500m.

A spokeswoman for IP Group declined to comment.