Neil Crabb, chief executive of Frontier IP, the spin-out from Sigma Capital, has sold down his entire 8.3% holding in Sigma.
Mr Crabb was the third largest holder in Sigma, the Edinburgh-based group now focused on property and urban regeneration, after West Coast Capital with 22% and chief executive Graham Barnet with 16.5%.
Mr Crabb co-founded Sigma with Mr Barnet as a venture capital group in 1996. It was listed on the Alternative Investment Market in 2000 and spun off Frontier as a university IP commercialisation specialist in 2009.
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