Our history

Mercia Asset Management PLC announces that the three Northern Venture Capital Trusts, which form part of Mercia’s third-party funds under Management, successfully completed their fund raise totalling £60.0million in new capital.

Mercia announces that Warwick Acoustics Limited secured its first production contract with a leading global luxury vehicle manufacturer. The multi-year contract is with a global top 10 luxury manufacturer and is a major milestone for Warwick Acoustics, validating the performance and scalability for its proprietary automotive audio system, which is based on electrostatic transducers.  The contract will initially be for two vehicle programs and will be delivered via a significant expansion of Warwick Acoustics’ design, development and manufacturing capabilities.

Mercia announces that nDreams Limited has acquired Brighton-based Near Light Limited. Founded in 2016, Near Light is a long-term partner of nDreams and a virtual reality and augmented reality game development studio. Near Light developed the nDreams-published Perfect and Shooty Fruity VR titles, in addition to recently pioneering an AR experience for one of the world’s leading toy brands.

Mercia is pleased to confirm completion of the sale of Faradion for a total enterprise value of £100.0million to Reliance New Energy Solar, a wholly owned subsidiary of India-based Reliance Industries, the multinational conglomerate. Based in Sheffield, Faradion is a world leader in sodium-ion battery technology that provides low-cost, high-performance and sustainable energy storage solutions. Mercia held a 16.4% fully diluted direct holding in Faradion and has received initial unrestricted cash proceeds of £18.6million, plus a further £0.8million ring-fenced for three months. Mercia made its first direct investment in Faradion in January 2017 and Mercia’s managed funds have held equity stakes in Faradion since its inception..Read more

Gateshead-based It’s All Good, which makes pitta chips and tortilla snacks including the Manomasa range, was acquired by the Irish Valeo Foods Group in December 2020. Mercia’s Northern VCTs first invested in the savoury snack manufacturer in February 2014, backing former Union Snacks MD Calum Ryder who set up the company with Michael Weatherhead and Lynn Saul. It’s All Good was one of four North East firms which this year made the Alantra Food & Beverage Fast 50 and was ranked one of the UK’s fastest-growing privately-owned food and drinks businesses.

In November 2020, Mercia completed a successful exit of channel service provider, Agilitas IT. The business, which delivers managed inventory solutions and technical, lifestyle and training services, initially found support from Mercia’s Northern VCTs in 2014 with an investment of £6.4million . The transaction is part of a management buyout, with Mercia continuing to back the company with ambitious international growth plans. Agilitas delivered year-on-year double-digit growth over the Northern VCTs’ tenure through continued innovation and expansion of its channel service propositions and geographic footprint. It was sold to the international private equity investor Perwyn, providing an 8.4x return.

Mercia sells stake in biotech EIS portfolio business spun out from the University of Birmingham   Specialist asset manager, Mercia Asset Management PLC which has £800.0million of assets under management including more than £50.0million of EIS capital,  has sold its stake in  The Native Antigen Company , a leading producer of infectious disease reagents, to global life sciences tools company LGC .  The sale of The Native Antigen Company is for a total cash consideration of up to £18.0million. The company, which was spun out of the University of Birmingham and backed by Mercia’s EIS funds since 2013, has generated..Read more

As part of the 2019 Preliminary Results the Executive Team announce a change in name to Mercia Asset Management PLC now employing 85 investment professionals and support staff.

Mercia’s second largest direct investment holding, Science Warehouse is sold to Advance Business Software and Solutions Limited for a full cash exit of £16.9million. The Group now employs 63 staff.

First closing of EV Growth II with initial commitments totalling £45.1million.

Group wins significant new contracts totalling £108.5millon with British Business Bank, increasing third-party funds under management by nearly 50% to over £336.5million. The Group now employs 54 staff.

Allinea Software is sold to ARM Limited for £18.1million.

Mercia increases number of university partnerships to 18.

Mercia opens an office in Edinburgh. It also begins Scottish partnerships with the University of Strathclyde and Abertay University, as well as three partnerships across the North of England with the Universities of York, Liverpool, and Liverpool John Moores University, taking its universities to 14 and now employing 20 staff.

Mercia Fund Management increases the number of university partnerships to nine across the Midlands, with £22.0million under management through third-party funds.

Mercia Fund Management raises the first hybrid Enterprise Investment Scheme (EIS) and Seed Enterprise Investment Scheme (SEIS) fund to come onto the market.

Management buyout leads to the creation of the third-party fund manager Mercia Fund Management with 3 employees and £12.0million of AuM

Mercia Fund Management expands university partnerships to eight.

WM Enterprise Limited (WME) is established in 1982 as a venture capital provider.