Mercia Ventures, a prominent venture capital investor based in the UK, has successfully completed a £60M (approximately €70.1M) fundraising effort through the three Northern Venture Capital Trusts (VCTs), highlighting its commitment to supporting small and medium-sized enterprises (SMEs) across the region.
With assets under management totaling around £1.5B, Mercia stands out as a proactive and regionally focused specialist asset manager. The Northern VCTs, including Northern Venture Trust PLC, Northern 2 VCT PLC, and Northern 3 VCT PLC, achieved this fundraising milestone through share offers initiated in September 2023. Following an initial allotment in January 2024, the trusts anticipate the allotment of the remaining new shares by April 4, 2024.
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Mark Payton, CEO of Mercia, expressed his satisfaction with the fundraising outcome, especially in the face of a challenging 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,” Payton stated.
About Mercia Ventures
Founded in 2010, Mercia Ventures has established itself as a key player in the UK’s venture capital landscape, focusing on supporting regional SMEs. The VC provides capital across four asset classes: venture, private equity, debt, and proprietary capital, collectively known as the Group’s ‘Complete Connected Capital’. Initially supporting businesses through third-party funds under management, Mercia transitions to direct investments using its balance sheet as companies mature.
Offering investments of up to £10M, Mercia Ventures supports portfolio companies at every stage of their growth. The Group’s extensive UK footprint, university partnerships, and personal networks afford it access to high-quality deal flow, positioning it as a leading venture capital investor in the region.
