LONDON, UK: Mercia Asset Management (AIM: MERC), the proactive, regionally focused specialist asset manager with £948 million of assets under management (AuM), announced the three Northern Venture Capital Trusts (Northern VCTs), which form part of Mercia’s AuM, have raised a total of £40 million in new capital through share offers launched in January 2022.
The Northern VCTs comprise Northern Venture Trust PLC, Northern 2 VCT PLC and Northern 3 VCT PLC. They each expect to allot new shares in respect of their successful fund raise on or around 4 April 2022.
Mark Payton, Chief Executive Officer of Mercia, commented: “We are pleased by the Northern VCT’s successful fund raise of £40.0million and grateful for the continued support of Northern VCT shareholders, in what is a competitive VCT fund raising environment. This reflects continued confidence in the reputation and track record of the three Northern VCT venture portfolios, together with those members of Mercia’s investment team who manage them. The Northern VCTs continue to be well positioned as an important source of capital for regional SMEs, as these businesses navigate the current economic climate.”