Mercia Technologies is now known as Mercia Asset Management, and has announced a $5.1m year-on-year increase in its portfolio value, up from a $3.9m increase in 2017-2018.

UK-based investment firm Mercia Technologies rebranded as Mercia Asset Management on Friday in an attempt to better reflect its core business activities.
The new moniker is intended to demonstrate Mercia’s focus on managing specialist assets which target distinct UK regions. Mercia’s third-party funds currently have approximately $497m under management.
These include the £27m ($37.7m) North East Venture Fund – which is backed by the EU-owned European Regional Development Fund – and a $135m portion of the UK government-backed Northern Powerhouse Investment Fund committed to enterprises in the UK’s Yorkshire, Humber and Tees Valley regions.
In a separate announcement today, Mercia Asset Management unveiled its provisional financial results for the year ended March 31, where it reported a $5.1m portfolio value increase, compared with a $3.9m increase in 2017-2018.
The firm injected $25.3m of funding into businesses which included two new portfolio additions – University of Nottingham-founded biomedicine company Locate Bio and fraud prevention tool provider W2 Global Data Solutions.
Mercia Asset Management’s annual turnover grew by 4.7% year-on-year to hit $14m, while operating profits rose 53.9% to $2.6m.
The firm’s third-party funds generated $12.5m in revenue over the period, and Mercia was able to wind down its RisingStars Growth Fund, creating a $22.2m financial return for its investors.