Peter Dines, Managing Director of Mercia Asset Management PLC (AIM:MERC) subsidiary Mercia Ventures, speaks to Thomas Warner from Proactive about the company's latest fundraising initiative.
Mercia Ventures is seeking to raise £42 million across three Venture Capital Trusts (VCTs), with an over-allotment facility bringing the potential total to £60 million for this tax year.
The funds target investors interested in a diversified portfolio of growth equity companies, focusing on sectors like Life Science, Health Tech, software, and consumer tech. Dines says that opportunities are likely to prove attractive to investors "looking for a diversified portfolio... it has the added benefit from a VCT perspective in terms of the tax benefits and the dividend."
Dines highlighted the firm's consistent track record, even during challenging times, citing the recent successful exit of Evotix, a health and safety software business, with a 4.5x return.
Those interested in the Northern VCTs can find more information on Mercia's website.