Big win for Mercia Technologies investment

Mark Payton, chief executive of Mercia Technologies

An investment group focused on innovative technology businesses is celebrating a multi-million dollar deal for one of its developers.

Mercia Technologies, which has offices across the UK, including Manchester, Liverpool, Leeds, Preston, Sheffield and Nottingham, said nDreams has clinched the deal with one of the world’s foremost virtual reality (VR) technology companies.

The investment firm holds a 45.6% stake in Farnorough-based nDreams, a developer and publisher focused on VR gaming and experience content. It said the deal represents its most significant contract to date.

Mercia initially financed nDreams’ pivot from developing content for PlayStation Home Virtual Worlds to successfully becoming a specialist in virtual reality content provision.

Following early support from Mercia’s managed funds, Mercia made its first direct investment into nDreams in December 2014.

Since then nDreams has been working with the leading global names in the VR industry including Sony PlayStation, Oculus, HTC, Google and Microsoft.

Dr Mark Payton, chief executive of Mercia Technologies, said: “This contract is not only highly significant for nDreams, as it reinforces the substantial potential value of this exciting VR business, but it is also a reflection of the wider inherent value held in the Mercia direct investment portfolio.

“Today’s announcement, which follows the recent Oxford Genetics announcement, is the second multi-million pound contract which Mercia’s two largest direct investments by value have recently secured, and taken together, demonstrate the tangible commercial progress which the portfolio is making.

“We expect to announce further positive news from our direct investment portfolio in due course,” he said.

Mercia Technologies is focused on the identification, creation, funding and scaling of innovative technology businesses with high growth potential from the UK regions.

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