Mercia Launches EIS Fund
Summary
Birmingham, UK-based venture capital firm Mercia Fund Management (MFM) has launched the Mercia Growth EIS Fund for investment in its (existing and future) technology portfolio.The “tax-efficient” vehicle is open to professional investors, UK wealth managers and UK family offices with a minimum of £25k to invest in high growth technology businesses.The MFM portfolio focuses on high growth scalable businesses, which have modest capital needs and are four years away from profitability or exit.It already includes medical technology, clean technology and electronics, telecoms and software businesses (Allinea, Intelligent Orthopaedics, Warwick Audio, LM Technologies and Concurrent Thinking).Run by a team of experienced technology-focused investment professionals led by Managing Director Dr. Mark Payton, MFM also intends to expand its geographical reach seeking new companies outside the Midlands region, where it originally established in 2007.