Advent Venture Partners, an independent technology venture capitalist, has sold 30% of its 14.3% holding in Scipher, a technology development and licensing company which floated on February 9.

At the end of its first day of trading Scipher closed at 688p, valuing the company at almost £600m (E996m). Advent's disposal returned 2.4 times the cost of its original £5m investment, net of expenses.