The Fund is fully invested and Mercia is focused on managing and supporting the portfolio to build some really exciting businesses.
The £10.0million North West Fund for Mezzanine provided investment capital to support business expansion where a business was already generating trading income and cash flow.
It was ideal for fast-growing innovative businesses which need more finance than their bank will provide.
This Fund is part of the £155.0million North West Fund which is financed by the European Regional Development Fund and the European Investment Bank as part of the JEREMIE programme, which aims to improve access to finance for SMEs.
The Fund provided finance from £750,000 to £2.0million to support expansion plans. Capital structures included a combination of equity, quasi-equity or mezzanine capital and loans (linked to equity) as best suited the needs of the company.