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Mercia launches hybrid SEIS/EIS fund

Mercia Fund Management has launched the Mercia Growth Fund, capitalising on the recent introduction of Seed EIS (SEIS) and the marked enhancements to EIS in the Finance Act.

Mercia Fund Management believes a hybrid fund will provide investors with a combination of maximised tax efficiency and the flexibility to invest in either EIS or SEIS from the same fund.

Through its first fund, Mercia Fund 1, the firm has established strong partnerships with eight universities (including the Universities of Warwick and Birmingham) gaining access to proprietary investment opportunities with protectable intellectual property.

At least 50 per cent of the prospective Mercia Growth Fund investments are already known to the management team.

Mark Payton, managing director of Mercia Fund Management, says: “Mercia Growth Fund is perfectly positioned to help high earners seeking tax efficient investments. We see our new hybrid fund building on the successes of Mercia Funds 1 and 2 which have collectively invested in excess of GBP9m and leveraged additional funding of circa GBP50m in 34 businesses to date.”

The Mercia Growth Fund closes on 31 October 2012, but may close sooner if the investment target is reached.

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