b'Mercia asset Management PLc37Annual Report and Accounts 2021EIS andVCT FundsPeter dineschief operating officer,Mercia eis and Vct Fundsan indication of the growing The three Northern VCTs typically invest inStrategic reportsuccess of the integration of theparallel and have been amongst the top northern Vcts investment team intoperforming VCTs over the last 10 years, with Mercia is demonstrated by the joint55 investments, 10 of which are AIM-listed. investment opportunities that areRemaining a generalist investor ensures now gaining traction.that we are not restricted to narrowGovernance Financial statementsverticals, and as a result, are able to attract Mercias Enterprise Investment Schemea range of diverse businesses such as (EIS) funds and Northern Venture CapitalCurrentBody.com and Pure Pet Food, Trust (VCTs) allow us to participate inbusiness that are purpose-led and that more Series A and Series B investmenthave been able to fuel their growth with our rounds. These overlapping pools of capitalsupport and investment capabilities. It is underpin our Complete Connected Capitalpleasing to be able to provide early model that offers investment ingenuity thatinvestment into fledgling regional is a balance of capital and experience frombusinesses that have big ambitions. a highly entrepreneurial investment team. This past years successes have precipitated It has been a very successful year for botha robust year of fund raising for our EIS our EIS and Northern VCT portfolios,Funds and, combined with the investment predominantly in the Life Sciences andcapacity of the three Northern VCTs, will go Software sectors, showcased by our EISa long way to ensuring that Mercia remains investments The Native Antigen Companythe most active regional investor in the UK, and OXGENE, with the Northern VCTas well as one of the UKs most active businesses, Agilitas and, post period end,venture capital firms in 2020 and 2021, musicMagpie delivering excellentaccording to Beauhurst.com. The many investment returns. Apart from the realisedfinancial returns produced this year have gains generated, what is crucial about thesehighlighted and validated our investment transactions is that they reaffirm themodel and we are proud to be one of the significant opportunity and value-creationfew firms to return more money to investors potential of promising companies locatedthan raised in the last year, emphasising in the UKs regions. that regional investment and returns canbe sustainable.'