Mercia Boosts Regional SMEs With Almost £60m Invested in 2018
- On January 7, 2019
- By GrowthInvest Admin
Mercia invested £59.7million in 2018, with over 90 per cent of the funding going to businesses outside of London and the South East. The figure, up from £48.0million the previous year, highlights Mercia’s role as one of the UK’s most active investors and a key source of funding for regional SMEs.
Mercia made investments in 137 companies during the year, of which 125 were outside of London and the South East. The figures show that Yorkshire and the Humber (where £15.7million was invested into 57 companies), the North West (£14.3million invested into 24 companies) and the Midlands (£13.3million invested into 22 companies) were the regions receiving the most investment over the 12 months. Mercia invested £2.5million in six companies in Scotland during the year.
During 2018 the group increased its third party funds under management from £350.0million to over £400.0million at 31 December, as a result of Mercia being appointed to manage the £23.0million Proof-of-Concept and Early Stage Equity Fund, part of the Midlands Engine Investment Fund, and the £27.0million North East Venture Fund, and raising a further £8.0million in EIS funds.
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