Neil Woodford has sold his stake in Bristol-based unquoted holding Ultrahaptics for a significant profit, as he continues to re-position his gated LF Woodford Equity Income fund, according to reports.
Woodford owned around 20% in the hardware provider, which allows users to feel and interact with virtual objects, having helped lead a funding round that spun the company out of the University of Bristol, The Telegraph reports.
Woodford invested around £10m in the company around four years ago during its Series A fundraising, according to the report. Ultrahaptics' most recent funding round saw it raise an extra £35m and was led by Mayfair Equity Partners in December 2018.
Mayfair has since snapped up Woodford's full stake, for what was reported, though not confirmed, to be £20m.
Woodford has been busy offloading assets in order to ensure his fund, which was suspended in June, will be able to satisfy redemption requests once it re-opens for trading, currently slated for December. He's already sold off around £800m of stock, reports suggest.