Mercia has invested nearly £15m since its IPO

HENLEY-in-Arden-based investment firm Mercia Technologies has revealed that it invested £8.4m in up and coming technology businesses in a 14 week period following its stock exchange listing.

And it has invested another £3m since then while a further £3.3m has been spent on becoming the sole limited partner of Mercia Fund 2 – a portfolio of future emerging ‘stars’.

Announcing its results for its maiden 3½ month trading period ended 31 March 2015, the firm said the £8.4m had been invested in six portfolio companies.

Three new companies have been added to Mercia’s portfolio of direct investments: VirtTrade, Crowd Reactive and Soccer Manager.

Mercia Fund Management , the Group’s wholly owned fund management subsidiary, has made 22 investments during the last 12 months, 11 into new businesses.
 
Mercia Technologies was admitted to the Alternative Investment Market (AIM) AIM in December, raising £70m gross proceeds.

It has reported a pre-tax profit of £2m and net assets of £80.8m. Its direct investment portfolio is valued at £24.6m.

The company has cash reserves of £53.6m.
 
Mark Payton, chief executive of Mercia Technologies, said: “Since our admission to AIM in December last year, when we raised £70m, we have continued to scale the business and have already invested a further £15m, £12m during the reporting period and £3m post period end.
 
“As a national investment business, we have a strong focus on the Midlands, the North and Scotland.
 
“Our post IPO momentum has continued into the new financial year and with a growing portfolio of direct investments and an exciting pipeline of young technology companies, we are well placed to achieve attractive medium to long- term shareholder returns.”