Work has already begun to assess applications to the £400m Northern Powerhouse Investment Fund (NPIF) from companies across the Northern Powerhouse region. Enterprise Ventures, which has been appointed to manage NPIF Debt and Equity funds in the region has received dozens of enquiries in the three weeks since the launch. These new enquiries are in
Mercia has been successful in its bids, via its wholly-owned subsidiary Mercia Regional Ventures Limited, to manage two of the British Business Bank’s (BBB) new Northern Powerhouse Investment Funds (NPIF). Following a highly competitive procurement process managed by the BBB, the Group has secured £108.5million across two mandates; a £57.5million equity fund and a £51.0million
We are delighted to advise our networks that Enterprise Ventures, part of Mercia Technologies PLC, has been successful in its bids to manage two of the British Business Bank’s (“BBB”) new Northern Powerhouse Investment Funds (“NPIF”). Following a highly competitive procurement process managed by the BBB, the Group has secured £108.5 million across two mandates;
Mercia Technologies PLC has announced that at its General Meeting held earlier today all resolutions were duly passed. Accordingly, and as set out in the announcement dated 31 January 2017, the Company now has the requisite authority to complete the placing of 86,956,521 new Ordinary shares with new and existing shareholders at a price of
NuBlue Limited, a Lancaster-based e-commerce agency and web hosting provider, is aiming to become a market leader in web design and hosting for e-commerce businesses, after securing growth funding from Lancashire Rosebud Finance™. Since the business began trading eleven years ago, it has grown from a two-person team to a company with over 40 employees.
Refract, a Software-as-a-Service (SaaS) start-up based in Newcastle, has received funding of £0.5m from Mercia Fund Management and the Finance For Business North East Technology Fund, managed by IP Group plc. This is one of a number of investments made in the North East of England by the Mercia Group. Refract’s product is an easy-to-use,
Medherant, a University of Warwick spinout that joined Mercia Technologies’ portfolio of direct investments in September 2016, has strengthened its board further with the appointment of pharmaceutical expert Ken Cunningham as chair. Ken has been instrumental in bringing innovative pharmaceutical research to market. He is currently non-executive director of Sunergos Innovations Ltd and Verona Pharma
A Birmingham-based start-up which develops game-inspired software for business use is set for growth following a £150,000 seed investment by Mercia Fund Management. Stormburst Studios was founded by Derry Holt and James Heath, two former students from Leicester’s De Montfort University who have also worked as developers within the video games industry. Their first product,
Cheshire’s Recruitment Management Group undergoes Enterprise Ventures-backed MBO Daresbury-based Recruitment Management Group (RMG) has been taken over by Giles Hampson, who acquired the shares of founder Andrew Evans with debt funding provided by Enterprise Ventures SME Loans. Following the transaction, Andrew will remain at the company in the role of non-executive director. RMG employs a
Mercia Technologies has announced a conditional placing of, in aggregate, 86,956,521 Placing Shares at 46 pence per Placing Share. The Placing Price represents a discount of approximately 8.9 per cent. to the closing mid-market price of 50.5pence per Ordinary Share on 30 January 2017 (being the last practical date prior to the announcement of the