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GMG Ventures rebrands as Mercuri and closes £50m fund

Mercuri, (formerly GMG Ventures), an early stage media technology investor, has raised £50 million from institutional investors, including a cornerstone investment from the British Business Bank, through its Enterprise Capital Funds programme, for its second fund.  

Mercuri, (formerly GMG Ventures), an early stage media technology investor, has raised £50 million from institutional investors, including a cornerstone investment from the British Business Bank, through its Enterprise Capital Funds (ECF) programme, for its second fund.  

Mercuri’s new fund will look to back founders of UK-based startups at the intersection of media and technology that are reinventing traditional media models using artificial intelligence. 

Mercuri’s strategy is to lead seed stage investments backing technology-enabled products for the new age of enterprise and the digital lifestyle of consumers. The fund’s sector focus spans four specific areas – the creation, distribution, consumption, and monetisation of content and data, with a focus on startups that enhance the way in which we communicate and engage in a professional and personal context, using AI.

Mercuri’s £42 million first fund, under its former name GMG Ventures, was anchored as a limited partner (LP) by The Scott Trust, which among other assets owns the Guardian Media Group. Fund II has a new diversified LP base, including several blue chip strategic investors – of which The Scott Trust is one

The certified B Corp is aiming to make up to eight new investments a year with substantial provision for follow-on deals.

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