Business
Mercia's Northern VCTs raise £60.0million
Mercia's Northern VCTs raise £60.0million.
About this update from Mercia Asset Management Plc
[{"type":"text","content":"\n\n\n\n\n \n\n\n\n\nReach\n\n\n13 March 2024\n\n\n\n\n \nMercia Asset Management PLC\n \n(\"Mercia\", the \"Group\" or the \"Company\")\n \nMercia's Northern VCTs raise £60.0million\n \nMercia Asset Management PLC (AIM: MERC), the proactive, regionally focused specialist asset manager with c.£1.5billion of assets under management (\"AuM\"), is pleased to note that the three Northern Venture Capital Trusts (\"Northern VCTs\"), which form part of Mercia's third-party funds under Management (\"FuM\"), have successfully completed their fund raise totalling £60.0million in new capital, through share offers launched in September 2023.\n \nThe Northern VCTs comprise Northern Venture Trust PLC, Northern 2 VCT PLC and Northern 3 VCT PLC. Following an initial allotment in January 2024, they each expect to allot the remaining new shares on or around 4 April 2024.\n \nMark Payton, Chief Executive Officer of Mercia, commented: \"I am delighted that the Northern VCTs have achieved a significant fundraise in the context of a more challenging fundraising environment. The successful £60.0million fundraise underscores the trust Mercia has built in managing the Northern VCTs, which remain a vital source of investment for SMEs navigating the current economic climate.\"\n \n-Ends-\n \nFor further information, please contact:\n \n\n\n\n\nMercia Asset Management PLC\nMark Payton, Chief Executive Officer\nMartin Glanfield, Chief Financial Officer\nwww.mercia.co.uk \n \n\n\n+44 (0)330 223 1430\n \n\n\n\n\nCanaccord Genuity Limited (NOMAD and Joint Broker)\n\n\n+44 (0)20 7523 8000\n\n\n\n\nSimon Bridges, Emma Gabriel\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n\nSinger Capital Markets (Joint Broker)\n\n\n+44 (0)20 7496 3000\n\n\n\n\nHarry Gooden, James Moat\n\n\n\n\n\n\n\n \n\n\n\n\n\n\n\nFTI Consulting\n\n\n+44 (0)20 3727 1051\n\n\n\n\nTom Blackwell, Jenny Boyd\n\n\n\n\n\n\n\[email protected]\n\n\n\n\n\n\n\n \nAbout Mercia Asset Management PLC\nMercia 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 busin...