MERC - Mercia Asset Management advises Treasury Select Committee on regional investment
(NewsDirect)
Mercia Asset Management PLC (AIM:MERC) CEODr Mark Payton speaks to Thomas Warner from Proactive about thespecialist asset manager's involvement in a recent House of CommonTreasury Select Committee investigation into the performance of theUK's venture capital (VC) industry. Dr. Payton personally providedevidence to the Treasury Select Committee's investigation, whichfocused on "impact, diversity and inclusion" and particularlyon the relatively high proportion of venture capital that flows toenterprises based in London and the south east.
Mercia's longstanding aim ofaddressing the disparity in capital provision between London and otherUK regions made it a natural invitee to the enquiry. He goes on togive some highlights of his contribution to the investigation, whichincluded advocating for the extension of the Enterprise InvestmentScheme and Venture Capital Trusts beyond their 2025 sunset clause. Healso called for the removal of the age test, which disadvantagesregional businesses that take longer to develop.
Additionally, he requested the lifting ofthe capital cap on investments in venture businesses to foster thegrowth of the next generation of companies. Dr. Payton remainsoptimistic about the regions' potential and encourages othermanagers to join in driving regional growth.
Read the fullreport here:https://committees.parliament.uk/committee/158/treasury-committee/news/196644/venture-capital-needs-to-venture-further-says-treasury-committee/
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