LONDON, UK: Mercia Asset Management (AIM: MERC), the proactive, regionally focused specialist asset supervisor with £948 million of assets under administration (AuM), introduced the three Northern Venture Capital Trusts (Northern VCTs), which form a half of Mercia’s AuM, have raised a complete 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 three VCT PLC. They every expect to allot new shares in respect of their profitable fund raise on or round four April 2022.
Mark Payton, Chief Executive Officer of Mercia, commented: “We are happy by the Northern VCT’s profitable fund raise of £40.0million and grateful for the continued support of Northern VCT shareholders, in what’s a aggressive VCT fund elevating environment. This displays continued confidence within the reputation and track record of the three Northern VCT enterprise portfolios, along with these members of Mercia’s funding team who handle them. The Northern VCTs proceed to be well positioned as an important supply of capital for regional SMEs, as these companies navigate the present financial climate.”
www.mercia.co.uk