NVM Private Equity has sold its three northeast England-focused venture capital trusts to Mercia Asset Management.
UK region-focused investment firm Mercia Asset Management has picked up three venture capital trusts specialised in northeast England investments from its peer NVM Private Equity for £25m ($32.9m).
NVM’s Northern Venture Trust, Northern 2 VCT and Northern 3 VCT will all transfer to Mercia subject to shareholder approval, as will their investment teams, led by partners Tim Levett and Charlie Winward.
Mercia will fund the acquisitions through a $39.4m equity raise, boosting its total assets under management to approximately…
