InterDigital, Inc.

**Signal Note: Driehaus Growth Entry into IDCC** Driehaus Capital's $119.4M initiation in InterDigital represents a notable conviction bet on the IP licensing and wireless technology platform, not a biotech play—IDCC is primarily a patent portfolio and standards licensing company in mobile/wireless. This signals confidence in IDCC's licensing monetization cycle, potentially tied to ongoing 5G/6G standards negotiations or licensing settlements rather than pipeline catalysts typical of pharma allocations.