MERC - Mercia Ventures raising money for northern VCTs
(NewsDirect)
Peter Dines, Managing Director of MerciaAsset Management PLC subsidiary Mercia Ventures, speaks to ThomasWarner from Proactive about the company's latest fundraisinginitiative.
Mercia Ventures isseeking to raise £42 million across three Venture Capital Trusts(VCTs), with an over-allotment facility bringing the potential totalto £60 million for this tax year.
The funds target investors interested in a diversified portfolioof growth equity companies, focusing on sectors like Life Science,Health Tech, software, and consumer tech. Dines says thatopportunities are likely to prove attractive to investors "lookingfor a diversified portfolio... it has the added benefit from a VCTperspective in terms of the tax benefits and the dividend."
Dines highlighted the firm'sconsistent track record, even during challenging times, citing therecent successful exit of Evotix, a health and safety softwarebusiness, with a 4.5x return.
Thoseinterested in the Northern VCTs can find more information on Mercia'swebsite .
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