Forward Group takes stake in Mercia Fund Management

The two entities had already been working in partnership for the past few years. Forward Group will now co-invest alongside MFM.

MFM currently has in excess of £17m in assets under management. Mercia Fund 1 was established in 2000 as an evergreeen seed fund providing support and capital to spinout projects from the University of Birmingham and the University of Warwick. Mercia Fund 2 was launched in 2007 to invest in later-stage businesses; this fund finished making new investments in January 2012.

Mercia Growth Fund 1, a hybrid enterprise investment scheme (EIS)/seed enterprise investment scheme (SEIS) fund, meanwhile raised around £2m in 2012. MFM is due to launch Mercia Growth Fund 2, a similar type of vehicle, in March 2013.

Forward Group is an evergreen private equity fund set up in 1999 that now has more than £100m in assets under management.

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