Mercia’s sale of OXGENE is a great example of how Mercia’s EIS funds and its balance sheet proprietary capital work together to provide superior returns. The exit, which was announced in March 2021, reaffirms the significant opportunity and value creation potential offered by Mercia’s ‘funds first’ hybrid investment model, which is focused on promising regional companies. We refer to this as ‘the thriving regions’ and it follows the same format as our exit from The Native Antigen Company. Mercia held a 32.1% direct holding in the business prior to completion, receiving cash proceeds of £30.7million, our largest cash exit to date.

Refract provides sales engagement and conversation analytics that help sales teams improve conversations and close more deals. It uncovers decisive moments in sales conversations for coaching and insight. Key moments can be highlighted with effective feedback, sharing playbook moments and using AI to expose what leads to successful outcomes and top performers in an organisation. Mercia first backed the company in 2016 and made a follow-on investment in 2017. Mercia achieved a 1.8x return on its original investment, equal to a 20% IRR.

In October 2020, Mercia sold its stake in Clear Review for a cash consideration of £26.0million. The transaction followed a combination of Mercia’s managed funds in 2018 and then a direct investment in 2019. The acquirer, Advanced Business Software and Solutions, is the third largest British software and services company in the UK. Mercia held a 4.0% fully diluted direct holding in Clear Review at the date of sale and received cash proceeds of £1.0million representing a 2x return on its investment and a 72% IRR. In addition to this direct investment return, the sale will also generate an 8x..Read more

Mercia completed the acquisition of the venture capital trust fund management business of NVM Private Equity LLP.

Mercia Fund Managers is awarded the £27.0million Venture Fund to support businesses across the North East region as part of the £120.0million North East Fund.

Mercia Fund Managers is awarded a £23.0million Proof-of-Concept and Early Stage Equity Fund, part of the Midlands Engine Investment Fund.

Non-exclusive partnership is secured with the University of Edinburgh; providing access to Edinburgh Innovations and increasing Mercia’s university partnerships to 19.

Placing of new Ordinary shares at a price of 46 pence per Ordinary share raising, in aggregate, £40.0million.

Concepta PLC lists on AIM by way of a reverse takeover.

Mercia acquires Enterprise Ventures Group Limited, creating a go-to provider of early-stage and growth capital in the Midlands, the North of England, and Scotland, operating from six regional offices.

Mercia Technologies PLC listed on AIM, raising £70.0million. Mercia Fund Management becomes the wholly-owned subsidiary of Mercia Technologies, providing Mercia with a ‘Complete Capital Solution’ for technology businesses.The Group employs just 7 employees.

Mercia Fund Management relocates from Birmingham to Forward House in Henley-in-Arden (West Midlands).

Forward Group becomes a shareholder in Mercia Fund Management. It launches the full funding model of early-stage investment from third-party funds to follow-on direct investment from the balance sheet (the Complete Capital Solution).

Forward Group establishes a collaboration with WME on the basis of their common interest in supporting and investing in the UK’s leading university spinouts.

WME launches Mercia Fund 1 (MF1), a £4.0million evergreen seed fund providing support and capital to spinouts from the Universities of Birmingham and Warwick.