The founder of the software developer Autonomy has claimed to have lost out on investments worth nearly $1 billion after Hewlett Packard made its “bombshell” fraud allegations.
Mike Lynch said that he was poised to sign up two of the biggest investment groups when setting up his Invoke Capital venture fund in late 2012. Warburg Pincus, an American private equity firm, and the Ontario Teachers’ Pension Plan were considering investing $400 million and $500 million respectively before HP accused Mr Lynch of a $5 billion accounting fraud at Autonomy, according to legal filings.
Mr Lynch, 54, made the allegations in a claim against HP, which is suing him and Sushovan Hussain, his former finance chief, for $5 billion over the takeover. HP bought Autonomy for