LONDON (Alliance News) - Mercia Technologies PLC Tuesday said it has completed two follow-on investments into VirtTrade Ltd and Crowd Reactive Ltd, the latter of which has also appointed Will Whitehorn as its chairman.
Midlands-based Mercia, which invests in technology companies across the UK, said it has invested a further GBP825,000 in VirtTrade, after investing an initial GBP1.5 million in the company in January.
It also invested a second tranche of GBP500,000 in Crowd Reactive, following a first tranche of the same amount in March.
Mercia added that Crowd Reactive has appointed Will Whitehorn as its chairman. Whitehorn is the former president of Virgin Galactic and has over 30 years' experience in brand development, media and communication.
"We are pleased to make follow-on direct investment into two of our 'emerging stars', originally emanating from Mercia's third-party funds under management. Both VirtTrade and Crowd Reactive now have significant commercial partnerships and our investment and support is to accelerate their continued growth," Chief Executive Mark Payton said in a statement.
"Will Whitehorn joining as chairman of Crowd Reactive is a testament to the quality of the businesses that we are supporting. The experience he gained from his time at Virgin, including working closely with Sir Richard Branson, will prove to be a valuable asset to the Crowd Reactive team," he added.
Shares in Mercia were untraded Tuesday morning, last quoted at 60.11 pence.
By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews
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Mercia Asset (MERC)