Hayes, pictured, has spent more than 23 years in interactive businesses, joining SEGA in 2004 as managing director.
He said, “I am delighted to join MFM – with oversubscribed funds and a growing portfolio, the company is ambitious, dynamic and offers an attractive package to start-ups.
“I look forward to working with the MFM team where my main focus is to build a portfolio of digital media, gaming and e-commerce EIS and Seed EIS investments.”
MFM managing director Mark Payton said, “MFM has a solid track record in supporting businesses in a number of technology sectors, and we have a wealth of experience that is transferable to our new division.”
“All new portfolio companies will have access to finance, grant advice, accommodation and centralised support, as well as our enviable investment track record and Mike’s additional experience.”
The new fund follows the close and investment of Mercia Growth Fund 1, which reached a size of about £2m.
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