RCS - Mercia Asset Mgt PLC - Mercia's EIS Funds raise c.£20million

Mercia Asset ManagementAnnouncement

12/05/2022 07:00

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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."

 

 -Ends-

 

For further information, please contact:

 

 Mercia Asset Management PLC                          +44 (0)330 223 1430

 Mark Payton, Chief Executive Officer

 Martin Glanfield, Chief Financial Officer

 www.mercia.co.uk (http://www.mercia.co.uk/)

 Canaccord Genuity Limited (NOMAD and Joint Broker)   +44 (0)20 7523 8000
 Simon Bridges, Andrew Potts

 Singer Capital Markets (Joint Broker)                +44 (0)20 7496 3000
 Harry Gooden, James Moat

 FTI Consulting                                       +44 (0)20 3727 1051
 Tom Blackwell, Immy Ransom
 mercia@fticonsulting.com

 

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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