Mercia Asset Management
PLC
("Mercia", the "Group" or the
"Company")
Mercia's Northern VCTs
raise £60.0million
Mercia Asset Management PLC (AIM:
MERC), the proactive, regionally focused specialist asset manager
with c.£1.5billion of assets under management ("AuM"), is
pleased to note that the three Northern Venture Capital Trusts
("Northern VCTs"), which form part of Mercia's third-party funds
under Management ("FuM"), have successfully completed their fund
raise totalling £60.0million in new capital, through share
offers launched in September 2023.
The Northern VCTs comprise Northern
Venture Trust PLC, Northern 2 VCT PLC and Northern 3 VCT PLC.
Following an initial allotment in January 2024, they each expect to
allot the remaining new shares on or around 4 April
2024.
Mark Payton, Chief Executive Officer of Mercia,
commented: "I am delighted that the Northern VCTs have achieved a
significant fundraise in the context of a more challenging
fundraising environment. The successful £60.0million fundraise
underscores the trust Mercia has built in managing the Northern
VCTs, which remain a vital source of investment for SMEs navigating
the current economic climate."
-Ends-
For
further information, please contact:
|
Mercia Asset Management PLC
Mark Payton, Chief Executive
Officer
Martin Glanfield, Chief Financial
Officer
www.mercia.co.uk
|
+44 (0)330 223 1430
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Canaccord Genuity Limited (NOMAD and Joint
Broker)
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+44 (0)20 7523 8000
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Simon Bridges, Emma
Gabriel
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Singer Capital Markets (Joint Broker)
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+44 (0)20 7496 3000
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Harry Gooden, James Moat
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FTI
Consulting
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+44 (0)20 3727 1051
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Tom Blackwell, Jenny Boyd
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mercia@fticonsulting.com
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About Mercia Asset Management PLC
Mercia is a proactive, specialist
asset manager focused on supporting regional SMEs to achieve their
growth aspirations. Mercia provides capital across its four asset
classes of venture, private equity, debt and proprietary capital:
the Group's 'Complete Connected Capital'. The Group initially
nurtures businesses via its third-party funds under management,
then over time Mercia can provide further funding to the most
promising companies, by deploying direct investment follow-on
capital from its own balance sheet.
The Group has a strong UK footprint
through its 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".
