Investment group injects £15.7m in Yorkshire SMEs in 2018
Mercia Technologies has invested a total of £15.7m in Yorkshire businesses in 2018, up from £14m the previous year.
The investment group supported 57 companies in Yorkshire and the Humber during the last twelve months.
Among these were Leeds University spin-out SatSense, Leeds-based smart toy firm BinaryBots, Hull-based wearable technology firm Moodbeam and video ad firm Ash TV, Sheffield-based engine technology company Libertine, and York-based e-commerce software firm Pure Clarity.
The group, which manages part of the Northern Powerhouse Investment Fund, employs 18 staff in the region and has offices in Leeds, Sheffield and Hull.
During 2018, the group increased its third party funds under management from £350m to over £400m at 31 December.
Mercia now has over 80 employees in eight locations nationwide and partnerships with 19 regional universities including York and Sheffield Hallam.
Mark Payton, chief executive of Mercia Technologies PLC, said: “Regional cities such as Leeds, Sheffield, Newcastle, Manchester, Birmingham and Edinburgh are increasingly important technology hubs, however venture capital remains heavily focused on London.
“Mercia has offices in all of these locations and as these latest figures show, it is addressing this shortfall by sourcing and backing exceptional businesses across the UK’s regions. Building on a successful 2018, I expect Mercia to continue to scale its activities into 2019.”
