Mercia Asset Management PLC Further direct investment into Netacea (4392Q)
18 Octubre 2023 - 1:00AM
UK Regulatory
TIDMMERC
RNS Number : 4392Q
Mercia Asset Management PLC
18 October 2023
18 October 2023
Mercia Asset Management PLC
("Mercia" the "Company" or the "Group")
Further direct investment into Netacea
Mercia Asset Management PLC (AIM: MERC), the proactive,
regionally focused specialist asset manager with c.GBP1.4billion of
assets under management, is pleased to announce completion of a
GBP4.4million funding round* into Netacea Group Limited
("Netacea"), a Manchester-based cybersecurity business.
Mercia now holds a fully diluted 34.2% direct investment stake
in Netacea, with its managed funds holding a further 31.2%. Mercia
contributed GBP1.6 million to this funding round as part of its
direct investment holding, with the remainder of the funds coming
from the Mercia-managed Northern VCTs; Northern Powerhouse
Investment Fund; and Netacea's management team.
This latest funding round will underpin Netacea's commercial
progress as a leading provider of defensive AI software against bot
attacks that target mobile, web and API applications, by supporting
its continuing growth plans both in the UK and internationally.
From its North West base, Netacea already supports some of the
world's largest global retailers and telecommunications
networks.
Dr Mark Payton , CEO of Mercia Asset Management PLC, commented:
"Our continuing support reaffirms Mercia's belief in both Netacea's
technology and the growth potential of the defensive AI software
market. Investing in this Manchester-based business also
underscores Mercia's continuing commitment to supporting
game-changing businesses based across the UK."
Keira Shepperson, Director at British Business Bank, said: "This
investment alongside Mercia demonstrates the transformational
impact that the Northern Powerhouse Investment Fund has on the
businesses it supports and the wider business community, helping to
facilitate knowledge-sharing and building new bridges and
connections."
*The funding round was achieved across two tranches, completed
in July and October 2023.
-Ends-
For further information, please contact:
Mercia Asset Management PLC
Mark Payton, Chief Executive Officer
Martin Glanfield, Chief Financial Officer +44 (0)330 223
www.mercia.co.uk 1430
Canaccord Genuity Limited (NOMAD and Joint +44 (0)20 7523
Broker) 8000
Simon Bridges, Emma Gabriel
+44 (0)20 7496
Singer Capital Markets (Joint Broker) 3000
Harry Gooden, James Moat
+44 (0)20 3727
FTI Consulting 1051
Tom Blackwell, Jenny Boyd
mercia@fticonsulting.com
About Mercia Asset Management PLC
Mercia is a proactive, specialist asset manager focused on
supporting regional SMEs to achieve their growth aspirations.
Mercia provides capital across its four asset classes of venture,
private equity, debt and proprietary capital: the Group's 'Complete
Connected Capital'. The Group initially nurtures businesses via its
third-party funds under management, then over time Mercia can
provide further funding to the most promising companies, by
deploying direct investment follow-on capital from its own balance
sheet.
The Group has a strong UK footprint through its regional
offices, university partnerships and extensive personal networks,
providing it with access to high-quality deal flow.
Mercia Asset Management PLC is quoted on AIM with the EPIC
"MERC".
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END
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