This article updates the series of articles published between March 2015 and November 2018 on the subject of financing businesses in the TMT sectors (Series 1). Since then the type and value of intangible assets have increased many banks have launched growth debt products private credit firms have expanded their business both generally and in providing credit to technology businesses and some legal developments relevant to intangible assets and credit finance have taken place.
Certainly the value of the market has grown. According to the latest ONS figures (published in November 2024) in 2022 UK businesses invested £200bn (a record) into intangible assets. This statistic also illustrates one of the original points of Series 1: of the £200bn only around half was invested in assets protected by intellectual property rights (IPR); the rest paid for assets such as know-how trade secrets business processes ...