Last checked at 15 Dec 2015 07:00
RNS Reach
15 December 2015
Mercia Technologies PLC
Further expansion into the North of England with three additional university partnerships
Mercia Technologies PLC (AIM: MERC, "Mercia"), a Midlands-based investment group building, funding and commercialising technology businesses in the UK, has further expanded its operations into the North of England, through university partnerships with the University of York, the University of Liverpool and Liverpool John Moores University. This takes the total of Mercia's university partnerships to 14, across the Midlands, the North of England and Scotland.
The three new university partnerships will provide further opportunities for Mercia to tap into the wealth of early stage technology businesses available in the North of England.
Mercia has already expanded its operations to Scotland, with the opening of an Edinburgh office, alongside two partnerships with the University of Strathclyde and Abertay University, announced on 27 October 2015. Mercia plans to open an office in the North of England in order to work more closely with its partner universities within the region in 2016.
Commenting on the partnerships, Mark Payton, CEO of Mercia Technologies PLC, said:
"Since Mercia Technologies listed on AIM last year, we have seen the number of our university partnerships increase from 9 to 14. At the same time, our third-party funds under management through Mercia Fund Management ("MFM") have grown markedly, enabling us to provide seed and early stage investment capital for a growing portfolio of exciting technology-backed businesses with high growth potential.
"Through our Complete Capital Solution we are able to support young and growing businesses via MFM with the potential over the medium to long term to provide material direct investment from Mercia Technologies PLC.
"The North of England has a wealth of untapped potential in terms of scalable technology businesses, and we look forward to working closely with the technology transfer teams at each of our new university partners to build, fund, and support the accelerated growth of their promising spinout companies."
For further information contact:
Mercia Technologies PLC (www.merciatechnologies.com) | +44 (0) 330 223 1430 |
Mark Payton, Chief Executive | |
Martin Glanfield, Chief Financial Officer | |
Cenkos Securities | +44 (0) 20 7397 8900 |
Ivonne Cantu / Mark Connelly (NOMAD) | |
Instinctif Partners | +44 (0) 20 7457 2020 |
Kay Larsen / Lauren Foster |
Note to editors
Mercia creates, funds and develops technology businesses nationally with an emphasis on the Midlands, the North of England and Scotland. The Group facilitates technology transfer, company formation, incubation, commercialisation and investment, with approximately 50% of its investments being university spinouts. Mercia invests across technology sectors in which it has deep sector expertise.
The Mercia model is one of patiently nurturing businesses via its third party funds under management and then scaling them with direct investment at the point of commercial traction. Through this, Mercia has a well seeded portfolio and pipeline of investments - its 'emerging stars'.
Mercia's shares started trading on AIM on 18 December 2014 and since then up until 3 December 2015, Mercia has invested over £20.0million directly across its portfolio of emerging stars, which in themselves have attracted total investment of approximately £70.0million alongside Mercia and its third party funds. In addition to its direct investments, Mercia (via MFM's funds under management) has invested over £20.0million to build its portfolio of potential future emerging stars.