Mercia unveils new investment drive
Birmingham-based venture capitalist Mercia Fund Management (MFM) has launched a new investment drive aimed at technology companies.
The business said its Mercia Growth EIS Fund was established for "tax efficient investment" in its portfolio which spans medical technology, clean technology and electronics, telecoms and software.
It is open to investors with a minimum of £25,000 to put into a business, and target companies will have a minimum turnover of £3m.
The MFM portfolio will focus on high-growth scalable businesses which are four years away from profitability or exit.
MFM has backed West Midlands' technology businesses including Allinea, Intelligent Orthopaedics, Warwick Audio, LM Technologies and Concurrent Thinking.
Dr Mark Payton, managing diretor of MFM, said: "Mercia Growth EIS Fund is perfectly positioned to help high earners seeking tax efficient investments in the technology sector.
"We see our EIS Fund building on the successes of Mercia Funds one and two which have collectively invested in excess of £9m and leveraged additional funding of circa £50m in 34 businesses to date."
