UK-based Mercia Ventures, an active venture capital investor, on Wednesday, announced the completion of a £60M (approximately €70.1M) fundraising by the three Northern Venture Capital Trusts, an integral part of Mercia’s third-party funds under Management.
With assets under management totalling approximately £1.5B, Mercia is a proactive and regionally focused specialist asset manager.
The Northern VCTs, namely Northern Venture Trust PLC, Northern 2 VCT PLC, and Northern 3 VCT PLC, have completed their fundraising through share offers launched in September 2023.
Following an initial allotment in January 2024, they anticipate allotting the remaining new shares around April 4, 2024.
Mark Payton, Chief Executive Officer of Mercia says, “I am delighted that the Northern VCTs have achieved a significant fundraise in the context of a more challenging fundraising environment. The successful £60M fundraise underscores the trust Mercia has built in managing the Northern VCTs, which remain a vital source of investment for SMEs navigating the current economic climate.”
Mercia Ventures: UK’s active venture capital investor
Founded in 2010, Mercia is a proactive, specialist asset manager focused on supporting regional SMEs.
The VC provides capital across its four asset classes of venture, private equity, debt, and proprietary capital: the Group’s ‘Complete Connected Capital’.
The Group initially supports businesses through third-party funds under management. As the companies emerge, Mercia will provide additional funding by investing directly using its balance sheet.
Mercia Ventures offers investments of up to £10M and supports portfolio companies at every stage of their growth.
The Group has a strong UK footprint through its regional offices, university partnerships, and extensive personal networks, providing it with access to high-quality deal flow.
01
Empowering Ukrainian Startups: Highlights from the PowerUp Ukraine 2024 Conference