Firm’s fund management subsidiaries to re-brand

Mark Payton

Fund management subsidiaries of Mercia Technologies are re-branding as Mercia Fund Managers.

The subsidiaries include Enterprise Ventures and Mercia Fund Management. The move comes as it focuses on scaling up the business.

Since Mercia’s acquisition of Enterprise Ventures 18 months ago, the Group has focused on building its regional presence across the UK. During that time, Mercia has been appointed to manage more than £108m of new venture capital and loan funds by the British Business Bank (through the Northern Powerhouse Investment Funds), it has opened new offices in Sheffield, Leeds and Birmingham and has successfully scaled the Group to more than 65 employees.

Mark Payton, CEO of Mercia, said: “This is an exciting time for Mercia as we continue to scale the business and increase our funds under management. As a result of our rapid growth, we feel that now is the right time to bring the fund management subsidiaries under one brand. The Enterprise Ventures track record has been instrumental in getting us to where we are now and following an intensive period of integration, we are coming together under one identity.”

Payton added: “The rebranding of our wholly owned fund management subsidiaries as ‘Mercia Fund Managers’ and the refresh of our website reflects how the Group has evolved with the combination of the Enterprise Ventures and Mercia teams. Our goal is to become the leading investment company in the UK and, with our team of experienced investment specialists at the heart of our business, this is very much an achievable target for us.”

The Group has more than 400 businesses in its portfolio, a strong record including 11 IPOs, and manages in excess of £330m of third party funds including regular EIS capital raises. It is able to invest between £50,000 to £2m, as well as provision of scale up capital through Mercia Technologies, which can invest up to £10m using its balance sheet capital.

 

Click here to sign up to receive our new South West business news...
Close