Mercia is a leading investment manager focused on UKt echnology, who also provide key business support services and flexible workspace for fast-growing technology companies.Mercia has over £22 million under active management. Mills & Reeve has provided legal advice to Mercia since 2007 across a wide range of investments.
A selection of investments completed for the funds under Mercia’s management (which include their hybrid EIS/SEIS Mercia Growth Funds) during the first half of 2014 include:
- Bioextractions Wales Limited – a provider of services to the pharmaceutical, chemical and related industries secured an investment of up to an aggregate of £365,000.
- Dab Gaming Limited - the developer and operator of social and real money gambling games agreed an investment of up to £550,000.
- VirtTrade Limited – a digital trading card developer secured an investment of up to a total of £300,000.
- Canary Systems Limited – the developer of a unique solution for elderly people looking to remain independent for longer in their own homes agreed an investment round of up to just over £650,000.
- No Yetis Allowed Limited – a mobile app developer secured an investment of up to £200,000.
- Crowd Reactive Limited – a social media display developer secured an SEIS investment of approximately £150,000.
- Torqbak Limited – a social media platform secured an investment round of up to £150,000.
The Mills & Reeve venture capital team is nationally renowned for its specialist experience and expertise in advising and assisting on complex syndicated investments in early and developing high-tech businesses.
The team is led by corporate finance partner, Zickie Lim (pictured), who said: “We are delighted to be able to continue to help Mercia support a truly diverse range of technology led businesses throughout their development and growth. Investment in the UK technology sector has been extremely active over the first two quarters of 2014, thanks in part to SEIS/EIS funds like those from Mercia, enabling their investors to benefit from generous tax advantages available. ”
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