Mercia's Northern VCTs raise £60.0million

About this update from Mercia Asset Management Plc

  Reach 13 March 2024   Mercia Asset Management PLC   ("Mercia", the "Group" or the "Company")   Mercia's Northern VCTs raise £60.0million   Mercia 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.   The 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.   Mark 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."   -Ends-   For further information, please contact:   Mercia Asset Management PLC Mark Payton, Chief Executive Officer Martin Glanfield, Chief Financial Officer www.mercia.co.uk       +44 (0)330 223 1430   Canaccord Genuity Limited (NOMAD and Joint Broker) +44 (0)20 7523 8000 Simon Bridges, Emma Gabriel   Singer Capital Markets (Joint Broker) +44 (0)20 7496 3000 Harry Gooden, James Moat   FTI Consulting +44 (0)20 3727 1051 Tom Blackwell, Jenny Boyd [email protected]   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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