Mercia announces first closing of EV Growth II

12th December 2017

As part of its Half Year Results, Mercia Technologies PLC has announced the first closing of EV Growth II with initial commitments totalling £45.

1million. The Fund has closed with commitments from institutions and private individuals, including three Mercia Fund Managers team members, who will be responsible for managing the new fund, and who were instrumental in managing its successful predecessor fund, EVG I. Earlier this year Mercia reported two full exits from the predecessor fund portfolio: ChargePoint Technology, Barber DTS and the partial exit from Woodall Nicholson, which together delivered an aggregate return of 4.6x to investors. The new fund EV Growth II, which will be led by Wayne Thomas, will make investments of up to £5.0million in established and ambitious SMEs, looking to grow, with a focus on management buyouts and replacement capital. The team will work with Operational Partners Warwick Ley and former BVCA UK CEO of the year, Brian Davidson, who have both made individual commitments to the Fund. Jonathan Diggines, Executive Director of Mercia Technologies PLC, who has been instrumental in raising the EV Funds said: -EV Growth II will be investing in some of the most dynamic businesses in the UK regions, particularly in the North of England, which is one of Mercia's core investment regions. We will typically take minority positions alongside the management team so that we can work together to generate growth and deliver attractive returns for management and for Fund investors. Wayne Thomas, Fund Manager of EV Growth II said: -The first Growth Fund demonstrated that we can identify, fund and help build outstanding businesses, run by extremely capable and ambitious management teams. Our experience, over many years investing in SMEs in the UK regions, shows that, to unlock growth and value, a business needs not just access to capital, it also needs strategic input and a patient, long term management approach, values which are fundamental to Mercia's investment ethos.

You might also be interested in

Document Network Services join Sheffield Chamber as a Premium Partner

Tue 23rd February 2021

Document Network Services has joined Sheffield Chamber of Commerce. They aim to work closely with the Chamber and its members to ensure local businesses get a fair deal on their Print, IT Services, Document Management and Communications.

Brexit Support: Weekly Drop-in Sessions with SITC

Tue 23rd February 2021

The UK left the European Customs Union and Single Market on 1st January 2021. This brought changes for businesses of every size and sector, in the trading of goods. Many businesses are facing difficulties in adapting to these changes. 

BCC responds to ONS labour market figures for February

Tue 23rd February 2021

Commenting on the ONS labour market statistics for February 2021, published today, BCC Head of Economics Suren Thiru said:

BCC responds to Prime Minister’s roadmap for reopening in England

Mon 22nd February 2021

Dr Adam Marshall, Director General of the British Chambers of Commerce said: