Venture capital fund manager Mercia Fund Management has launched Mercia Growth Fund 2, its second hybrid EIS/SEIS fund.
The new fund follows the close and investment of Mercia Growth Fund 1. The entire fund reached approximately £2m in size.
To date, Mercia Fund Management has already invested approximately £7m into EIS and SEIS-qualifying businesses, while leveraging in excess of £50m in syndicate investment.
The firm also manages a portfolio of institutional funds and has long-term partnerships with eight universities.
Mercia Fund Management recently announced that UK financial services firm Forward Group, had become a shareholder. The new relationship provides a larger investment pool, the firm said, while accelerating Mercia Fund Management and Forward Group’s ambitions to build a fully integrated financial services business.
Dr Mark Payton, managing director of Mercia, said, “This is an extremely exciting time for our team, our investors and investment portfolio – we’re working on finalising our investments from Mercia Growth Fund 1, and the interest in our new hybrid fund is already high, especially as investors seek tax-efficient investments while supporting innovative businesses.”
The Mercia Growth Fund 2 is expected to close by June this year.
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