Mercia Fund Management to launch new fund

The hybrid vehicle, which will launch on 11 August, will combine elements of EIS and SEIS, giving tax relief of 30% abd 50% respectively. A minimum investment threshold of £25,000 stands if investors commit via an intermediary.

The vehicle has strategic partnerships with eight universities, creating a potential source of dealflow. Mercia will target opportunities in financial technology, Internet of Things, e-commerce, gaming and gamification, advertising technology, software-as-a-service and digital services.

The fund is expected to close at the end of October this year.

Last year, Mercia appointed Mike Hayes as part of its digital and e-commerce division. At the time of the hire, Mercia stated that his main focus would be on building a portfolio of digital media, gaming and e-commerce EIS and SEIS investments. Hayes is the former CEO of Sega Europe and Sega in the US.

In early 2013, evergreen investor Forward Group took a stake in Mercia Fund Management, and committed to co-investments alongside Mercia.

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