Mercia's EIS Funds raise c.£20million

RNS Number : 1448L

Mercia Asset Management PLC

12 May 2022

 

RNS Reach

12 May 2022

Mercia Asset Management PLC

("Mercia", the "Group" or the "Company")

Mercia's EIS Funds raise c.£20million

Mercia Asset Management PLC (AIM: MERC), the proactive, regionally focused specialist asset manager with c.£948million of assets under management ("AuM"), is pleased to note that its first Knowledge-Intensive ("KI") and annual Enterprise Investment Scheme ("EIS") funds have raised a combined total of c.£20million in new capital during the last year.

The specialist KI fund will invest in high-growth businesses that generate a positive impact, as outlined by the United Nations' sustainable development goals.

As one of the UK's leading providers of both EIS and Venture Capital Trust ("VCT") investment capital, these successful fund raises, together with the £40.0million recently raised by the Northern VCTs, means that Mercia has raised over £60million in new funds from individual investors during the last year.

Mark Payton, CEO of Mercia, commented : "As an exclusively national investor, focused on delivering capital and support to the UK regions, responsible investment is at our core. More broadly, Environmental, Social and Governance issues are quite rightly an increasingly important driver of investor decision making. We're therefore delighted to have raised our first Knowledge-Intensive fund that will capitalise on our experience of successfully investing in purpose-led regional SMEs . More broadly, raising over £60million in new funds from individual investors during the last year is testament to how our increasingly successful track record of delivering attractive realisations is supporting Mercia's strategy of scaling its assets under management ."

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For further information, please contact:

Mercia Asset Management PLC Mark Payton, Chief Executive Officer Martin Glanfield, Chief Financial Officer www.mercia.co.uk	[phone]
Canaccord Genuity Limited (NOMAD and Joint Broker)	[phone]
Simon Bridges, Andrew Potts
Singer Capital Markets (Joint Broker)	[phone]
Harry Gooden, James Moat
FTI Consulting	[phone]
Tom Blackwell, Immy Ransom
[e-mail]

About Mercia Asset Management PLC

Mercia is a proactive, specialist asset manager focused on supporting regional SMEs to achieve their growth aspirations. Mercia provides capital across its four asset classes of venture, private equity, debt and proprietary capital: the Group's 'Complete Connected Capital'. The Group initially nurtures businesses via its third-party funds under management, then over time Mercia can provide further funding to the most promising companies, by deploying direct investment follow-on capital from its own balance sheet. 

The Group has a strong UK footprint through its regional offices, 19 university partnerships and extensive personal networks, providing it with access to high-quality deal flow. Mercia currently has c.£948million of assets under management and, since its IPO in December 2014, has invested c.£116million gross into its direct investment portfolio.

Mercia Asset Management PLC is quoted on AIM with the EPIC "MERC".

 

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