Beleaguered fund manager Neil Woodford is set to offload his firm's stake in Accelerated Digital Ventures (ADV), which has backed startups including GP on-demand service Push Doctor. Woodford Investment Management is expected to strike a deal this week to sell its 40 per cent stake in ADV to fellow shareholder Legal & General, Sky News reported. The deal would make Legal & General by far ADV's largest investor. The British Business Bank and ADV's management also hold small stakes. ADV, launched in 2016, has pumped money into startups including home ownership platform Unmortgage. The value of the deal is unclear, but is likely to be in the tens of millions of pounds, according to the report.
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