b'wwOur portfolio continuedBalance sheetTrustedto make adifference Mercias Complete Connected Capital model means that we can draw upon various pools Criticalof capital, delivering the appropriate levels of investment at the right time. collaborationsThis is exemplified by our direct investments where we invest our own balance sheet money to support some of the most promising businesses from within our managed funds portfolios, offering exciting potential for value growth.Under the leadership of Managing Director, Mercia Investments, Angela Warner, we deploy the combined skills of our investment team and the Mercia Platform to accelerate the growth of these young companies.Total transaction value # of portfolio companies 17.5m 25New companies supported134 Mercia Asset Management PLC Annual Report and Accounts 2020'