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Home » Business News

Mercia Fund Management holds Open House for companies seeking investment…

Submitted by on November 1, 2013 – 8:26 am |


Dr Mark Payton - Mercia Fund Management - Mercia Fund Management holds Open House for companies seeking investment...Venture capital fund manager Mercia Fund Management (MFM) has announced that its second Open House event aimed at companies seeking Seed Enterprise Investment Scheme (SEIS) start-up investment or EIS (expansion capital for growing businesses) investment is taking place on 6 November 2013 at Forward House in Henley-in-Arden, Warwickshire.

Since its first Open House in April 2013, Mercia has funded companies including innovative telecoms start-up Smart Antennae Technologies; drug discovery services company CYP Design Ltd; the biotechnology company behind SnapFast™, Oxford Genetics Ltd.; and an online marketing start-up Metric. 

Mercia also, recently announced the appointment of Mike Hayes, who was previously CEO of gaming giants, SEGA Europe and SEGA of America, as head of its new digital division with a remit to build a portfolio of digital media, gaming and e-commerce EIS and Seed EIS investments.

MFM targets its SEIS investments primarily at early-stage companies requiring growth funding. SEIS qualifying companies meet the following criteria:

  • active trading has ideally commenced
  • less than two years old
  • fewer than 25 employees
  • gross assets shall be less than £200,000 and
  • must not have already raised cash through EIS or VCT.

MFM targets its EIS investments primarily in profitable businesses, or those within 12-18 months of reaching profitability and typically turning over at least £1m. It also targets businesses requiring expansion or growth funding for EIS investment.

Dr Mark Payton, Managing Director of Mercia Fund Management commented: “SEIS has now become an important route for new businesses with growth aspirations to access equity finance and Mercia have been managing SEIS since its introduction. By managing both SEIS and EIS investment funds, we are able to both support businesses during their first steps in growth with SEIS, whilst our EIS funds allows us to invest in expanding businesses, helping them reach profitability to grow further.

“We are looking forward to meeting potential SEIS and EIS investees, and hearing about their innovative products and services plus their expansion plans. We expect to run two Open House events per year at our technology business incubator at Forward House in Henley-in-Arden.”

Innovative companies qualifying for SEIS or EIS investment are encouraged to pre-book informal meetings with the investment team. MFM’s trusted intermediaries, Mills & Reeve, James Cowper and Complete Resourcing, will also be attending to provide legal, tax and recruitment advice and guidance, again on an informal basis.

The Open House event will take place on 6 November 2013, at Forward House, Henley-in-Arden, Warwickshire; a business centre offering cost-effective, central accommodation and centralised support services.

To register for the event, please visit: http://merciafundopenhouse-es2.eventbrite.co.uk/

Mills & Reeve’s highly regarded corporate team already has significant experience in advising clients seeking investment. In the last 12 months, Mills & Reeve has acted on over 45 VC investment deals, with aggregate investment of in excess of £48 million, and during this period has also won a significant number of new fund investors and new investee company clients.

James Cowper has worked extensively with MFM, its fund members and investee companies and was awarded Tax Team of the Year at the British Accountancy Awards 2011 for its work with EIS companies. As a member of Kreston International, James Cowper gives its client base of over 3,000 businesses and private individuals, ranging from start-up ventures to well established companies, access to one of the world’s largest accountancy and business advisory networks.

Complete Resourcing is the UK’s only specialist HR and recruitment consultancy working exclusively with investor backed high gross businesses. It has a successful track record of helping build many of the UK’s successful technology companies.  With over 22 years’ experience in the market, Complete Resourcing provides end to end services from organisational design to mentoring and coaching plus recruitment.

NB: SEIS is Seed Enterprise Investment Scheme and EIS is Enterprise Investment Scheme.


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