Mercia Asset Management PLC NVM VCTs raise GBP38.2 million (7696I)
03 Abril 2020 - 05:47AM
UK Regulatory
TIDMMERC
RNS Number : 7696I
Mercia Asset Management PLC
03 April 2020
RNS
For immediate release 3 April 2020
Mercia Asset Management PLC
("Mercia")
NVM VCTs raise GBP38.2million, increasing Mercia's AUM to
c.GBP740million
Mercia Asset Management PLC (AIM: MERC), the proactive,
regionally focused specialist asset manager, is pleased to note
that the three Northern Venture Capital Trusts ("NVM VCTs") which
form part of Mercia's assets under management ("AUM"), following
the acquisition of the NVM VCT fund management contracts in
December 2019, have raised a total of GBP38.2million in new capital
through the share offers launched in January 2020.
The NVM VCTs comprise Northern Venture Trust PLC, Northern 2 VCT
PLC and Northern 3 VCT PLC.
Mark Payton , Chief Executive Officer of Mercia, commented:
"We are pleased by the successful fund raising of
GBP38.2million, despite the challenging market environment,
reflecting continuing confidence in the reputation and track record
of the NVM VCT portfolios and the investment team managing them.
This now takes Mercia's total AUM to c.GBP740million and we
continue to be well positioned as an important source of capital
for regional SMEs, as they look to navigate the current economic
conditions."
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, Richard Andrews
N+1 Singer (Joint Broker)
+44 (0)20 7496
Harry Gooden, James Moat 3000
+44 (0)20 3727
FTI Consulting 1051
Tom Blackwell, Louisa Feltes, Antonia Powell
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 balance
sheet, venture, private equity and debt 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 regional footprint through its eight
offices, 19 university partnerships and extensive personal
networks, providing it with access to high-quality deal flow.
Mercia currently has c.GBP740million of assets under management
and, since its IPO in December 2014, has invested over GBP90million
across its direct investment portfolio.
Mercia Asset Management PLC is quoted on AIM with the epic
"MERC".
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END
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