Venture capital fund manager Mercia Fund Management has launched Mercia Growth Fund 2, its second hybrid EIS/SEIS fund.
The new fund follows the close and investment of Mercia Growth Fund 1. The SEIS portion of that fund was oversubscribed, while the entire fund reached approximately to GBP2m in size.
Mercia Growth Fund 2 offers the flexibility to invest either in EIS or SEIS, while enabling investors to maximise tax efficiency.
To date, Mercia Fund Management has already invested approximately GBP7m into EIS and SEIS-qualifying businesses, while leveraging in excess of GBP50m in syndicate investment.
The VC firm manages a portfolio of institutional funds that offer a low risk deal flow. Its long-term partnerships with eight universities (including Warwick and Birmingham) offer a wide range of high-growth potential investment opportunities.
Mercia Fund Management recently announced that Forward Group, with circa GBP100m of assets under management, has become a shareholder.
Mark Payton (pictured), managing director of Mercia Fund Management, says: “This is an extremely exciting time for our team, our investors and investment portfolio – we’re working on finalising our investments from Mercia Growth Fund 1, and the interest in our new hybrid fund is already high, especially as investors seek tax-efficient investments while supporting innovative businesses.”
