Mercia has successfully raised £30.0million and has now completed the acquisition of the venture capital trust (VCT) fund management business of NVM Private Equity LLP.
Mercia’s CEO, Dr Mark Payton said – “We identified the Northern VCTs and NVM as the perfect fit for Mercia. This is an excellent opportunity for Mercia, the transferring employees, the VCTs and the UK regions. This moves Mercia significantly closer to achieving our strategic milestone of managing £1.0billion in AuM by 2022, and makes us a profitable, valuable and valued active asset manager. As a domestic UK-only investor providing substantial support alongside capital deployment, we’ve long recognised this need for ambitious SMEs in the UK regions outside of London. This acquisition demonstrates our long-term commitment to the regions, as well as being a testament to the success of our proprietary complete connected capital model as we seek to make Mercia the first choice for investors, investees and employees.”
Find out more about the Northern VCTs