REG - Mercia Asset Mgt PLC - Netacea receives additional investment

Mercia Asset ManagementAnnouncement

06/12/2024 07:00

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RNS Number : 0407P  Mercia Asset Management PLC  06 December 2024

RNS
6 December 2024

 

Mercia Asset Management PLC

 

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

 

Netacea receives additional investment

 

Mercia Asset Management PLC (AIM: MERC), the regionally focused, specialist
alternative asset manager with over £1.8billion of assets under management,
is pleased to announce a £4.0million follow-on investment into Netacea Group
Limited ("Netacea").

 

The investment will be made across two tranches. Mercia's balance sheet will
contribute £3.1million to the investment round in total as part of its direct
investment holding, with the remainder coming from its third-party managed
funds. Mercia's direct investment is split £2.0million now, with the second
tranche of £1.1million expected to be invested during Mercia's next financial
year. Following completion of both tranches Mercia will hold a fully diluted
33.6% direct investment in Netacea, with its managed funds holding a further
26.9%.

 

This new funding will enable Netacea to accelerate its position as a leading
defensive AI software provider against bot attacks, targeting mobile, web and
API applications. The investment will support its AI strategy, as well as the
expansion of its product portfolio and continued growth both domestically and
internationally. Netacea already counts major global retailers and
telecommunications networks amongst its client base.

 

Dr Mark Payton, CEO of Mercia Asset Management, said: "We are pleased to
continue supporting Netacea's growth trajectory. We have several investments
in the cyber security sector, across both our direct investments and managed
funds. These portfolio companies are addressing critical challenges across the
security spectrum - from bot detection and threat intelligence to digital
forensics and supply chain risk management. The sustained interest we are
seeing in this sector validates our long-held investment thesis."

 

-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, Emma Gabriel

 Singer Capital Markets (Joint Broker)                +44 (0)20 7496 3000
 Charles Leigh-Pemberton

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

 

About Mercia Asset Management PLC

Mercia is a specialist alternative asset manager focused on supporting
regional SMEs to achieve their growth aspirations. Mercia provides capital
across its four asset classes of venture, debt, private equity and proprietary
capital: the Group's 'Complete Connected Capital'.

 

The Group has a strong UK footprint through its 11 regional offices,
university partnerships and extensive personal networks, providing it with
access to high-quality deal flow.

 

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

 

 

 

 

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