Mercia holds £45.1m first close for EV Growth II

The closing comes two months after the firm, which previously operated under the Enterprise Ventures and Mercia Fund Managers brands, rebranded. It also follows the opening of a new larger Leeds office in November to support its expansion in the region in response to having recently secured contracts to manage two of the British Business Bank's Northern Powerhouse Investment Funds.

The firm has typically managed EIS/SEIS funds.

Investors
According to a statement, the new vehicle secured commitments from institutions and private individuals, including three Mercia team members.

Investments
EV Growth II will make investments of up to £5m in management buyouts and replacement capital deals. It will typically take minority positions alongside companies' management teams.

As with previous Mercia funds, the vehicle will target UK-based technology companies. It will make deals from its offices in the Midlands, the north of England and Scotland.

Recently realised investments by Mercia include industrial valve manufacturer ChargePoint Technology, Barber of Sheffield – a distributor of products to the tattoo, piercing, veterinary and medical markets – and specialist vehicle manufacturer Woodall Nicholson.

People
Mercia Technologies – Jonathan Diggines (executive director); Wayne Thomas (fund manager).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Funds
• Buyout
• UK / Ireland
• Technology
• United Kingdom
• Enterprise Ventures