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Asset/Investment Management
FINANCE | Investment Firms & Funds
mercia.co.uk

Investments

299

Portfolio Exits

23

Funds

6

Partners & Customers

1

Service Providers

2

About Mercia Asset Management

Mercia Asset Management (LON: MERC) operates as an investment company. It focuses on venture capital and private equity investments in the entertainment, manufacturing, engineering, life sciences, and technology sectors. It was formerly known as Mercia Fund Managers. The company was founded in 1982 and is based in Henley-in-Arden, U.K.

Headquarters Location

Forward House 17 High Street

Henley-in-Arden, England, B95 5AA,

United Kingdom

+44 03302231430

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Latest Mercia Asset Management News

Pimberly Software Development (t/a Pimberly) secures £4 million Series B investment from NPIF – Mercia Equity Finance

Feb 26, 2024

11 minutes read Pimberly  –  a Manchester-based company whose Product Information Management  (PIM) and Digital Asset Management (DAM) software  helps businesses to boost e-commerce sales – has raised a further £4m from  NPIF – Mercia Equity Finance , which is managed by Mercia and part of the Northern Powerhouse Investment Fund (NPIF), and Mercia’s own funds. The latest funding round, which brings the total raised to date to over £14m, will enable it to enhance its platform, expand its US operation and make further inroads into the European market. Pimberly’s platform helps manufacturers, distributors, brands and retailers to manage the data and digital assets required to create, market and sell their products. It brings product specifications and digital assets such as images, video, documents and 3D all together in one place, providing access to up-to-date accurate information. The platform is used by a host of leading brands including Footasylum, Monsoon, JD Sports, Cotton Traders, Dover Sadlery and Harvey Nichols. Mercia and NPIF first invested in Pimberly in 2018. Since the last funding round in 2021, the company has increased UK staff numbers from 47 to 75, doubled the number of customers to around 115 and opened a US office in New York. It has also added market-leading AI features to its platform to improve its ability to handle complex data and create compelling SEO-optimised product experiences. Pimberly expects to create around 20 new jobs in the UK in the next two years, as well as growing its team across the US and Canada. Martin Balaam, CEO of Pimberly, said: “The leading e-commerce businesses now sell on multiple marketplaces around the world, which means they have to list their products on numerous different sites and in different languages. Our product helps them to enrich their product information with more relevant data, images, videos and 3D visuals and improve the customer’s shopping experience. “Our growth to date would not have been possible without the backing of our investors, and we are pleased to secure their continued support. It demonstrates that Northern tech businesses seeking funding do not need  to look outside the region – the investment they need is available on their doorstep.” Debbie Sorby, Senior Manager, British Business Bank, said: “As consumer behaviour evolves, we’re seeing an increase in e-commerce and a need to have effective solutions to service this demand. Product Information Management (PIM) and Digital Asset Management (DAM) software provides this, and offers solutions to a global network of clientele, strengthening economic performance on a large scale. The Northern Powerhouse Investment Fund remains dedicated to helping businesses like Pimberly thrive by providing finance to support ambitions, boost employment and provide further opportunities for growth. It’s a pursuit we’ll be continuing with the upcoming launch of NPIF II.” Mercia was investing from its NPIF funds under management and its Northern Venture Capital Trusts (VCTs). Will Clark, a Managing Director in Mercia Ventures, added: “The North West of England has built a strong track record for e-commerce, which stems from its role as a centre for the mail order catalogue industry and the textile trade before that. Pimberly builds on that tradition and is increasingly being recognised as a global leader in its field. The company has been expanding steadily and has created a strong foundation in the US market. This latest investment will help Martin and the team to accelerate its growth and take the business to the next level.” The current NPIF investment phase has now completed with the British Business Bank launching the Northern Powerhouse Investment Fund II in March 2024. The Northern Powerhouse Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank. ENDS About Mercia Ventures Mercia Ventures is a proactive venture capital investor focused on being the first-choice partner for growth. Mercia Ventures makes equity investments of up to £10million across all sectors, with specialisms in Software, Consumer, Healthcare and Deep Tech. Mercia Ventures is part of Mercia Asset Management PLC and sits alongside its wider private equity, debt and proprietary balance sheet capital operations. The Group has 11 offices in the UK and Mercia Ventures’ national footprint and 48 strong investment team draws on their experiences as founders, PhD scientists, software engineers, corporate financiers and management consultants to help our partner companies successfully achieve their ambitions. Mercia Asset Management PLC currently has c.£1.4billion of assets under management and, since its IPO in December 2014, has a portfolio of over 400 start-ups from pre-seed to Series B. Mercia Asset Management PLC is quoted on AIM with the epic “MERC”. The Group raises its own Venture Capital Trusts (VCTs) and Enterprise Investment Scheme (EIS) Funds and details about open offers can be found through Mercia’s website. Mercia Asset Management PLC is quoted on AIM with the epic “MERC” and includes the following wholly owned subsidiaries – Mercia Fund Management Limited is authorised and regulated by the FCA under firm reference number 524856 Enterprise Ventures Limited is authorised and regulated by the FCA under firm reference number 183363 EV Business Loans Limited is authorised and regulated by the FCA under firm reference number 443560 About The Northern Powerhouse Investment Fund The Northern Powerhouse Investment Fund will invest in Microfinance, Business Loans and Equity Finance sub-funds which will offer financing ranging from £25,000 to £2m, specifically to help small and medium sized businesses secure the funding they need for growth and development. The Northern Powerhouse Investment Fund is operated by British Business Financial Services Limited, wholly owned by British Business Bank, the UK’s national economic development bank. Established in November 2014, its mission is to make finance markets for smaller businesses work more effectively, enabling those businesses to prosper, grow and build UK economic activity. The Northern Powerhouse Investment Fund is supported by the European Regional Development Fund, the European Investment Bank, the Department for Business, Energy and Industrial Strategy and British Business Finance Limited, a British Business Bank group company. The NPIF covers the following LEP areas: Tees Valley Combined Authority, Greater Manchester, Cheshire and Warrington, Cumbria, Liverpool City Region, Lancashire, Hull and East Yorkshire, Leeds City Region, Sheffield City Region, and York & North Yorkshire The project is receiving up to £140,359,192 of funding from the England European Regional Development Fund as part of the European Structural and Investment Funds Growth Programme 2014-2020. The Department for Communities and Local Government is the Managing Authority for European Regional Development Fund. Established by the European Union, the European Regional Development Fund helps local areas stimulate their economic development by investing in projects which will support innovation, businesses, create jobs and local community regenerations. For more information visit  https://www.gov.uk/european-growth-funding . The funds in which Northern Powerhouse Investment Fund invests are open to businesses with material operations, or planning to open material operations, in, Yorkshire and the Humber, the North West and Tees Valley. The British Business Bank has published the Business Finance Guide (in partnership with the ICAEW, and a further 21 business and finance organisations). The guide, which impartially sets out the range finance options available to businesses and provides links to support available at a regional level, is available at  www.thebusinessfinanceguide.co.uk/bbb

Feb 23, 2024
Offer Update

Mercia Asset Management Investments

299 Investments

Mercia Asset Management has made 299 investments. Their latest investment was in Newcells Biotech as part of their Unattributed VC - III on February 14, 2024.

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Mercia Asset Management Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

2/14/2024

Unattributed VC - III

Newcells Biotech

$2.95M

No

2

1/22/2024

Unattributed VC - II

Huler

$1.91M

No

1

11/1/2023

Loan

Ignis Group

Yes

2

10/18/2023

Series A - II

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$99M

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10

10/9/2023

Unattributed

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$99M

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10

Date

2/14/2024

1/22/2024

11/1/2023

10/18/2023

10/9/2023

Round

Unattributed VC - III

Unattributed VC - II

Loan

Series A - II

Unattributed

Company

Newcells Biotech

Huler

Ignis Group

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Amount

$2.95M

$1.91M

$99M

$99M

New?

No

No

Yes

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Co-Investors

Sources

2

1

2

10

10

Mercia Asset Management Portfolio Exits

23 Portfolio Exits

Mercia Asset Management has 23 portfolio exits. Their latest portfolio exit was nDreams on November 20, 2023.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

11/20/2023

Acquired

$99M

6

10/13/2023

Acquired

$99M

1

10/6/2023

Management Buyout

$99M

Management Buyout (MBO)

1

8/22/2023

Acquired

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$99M

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10

8/16/2023

Asset Sale

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$99M

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10

Date

11/20/2023

10/13/2023

10/6/2023

8/22/2023

8/16/2023

Exit

Acquired

Acquired

Management Buyout

Acquired

Asset Sale

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

Management Buyout (MBO)

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Sources

6

1

1

10

10

Mercia Asset Management Acquisitions

5 Acquisitions

Mercia Asset Management acquired 5 companies. Their latest acquisition was Underwater Diving Services on October 27, 2023.

Date

Investment Stage

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Total Funding

Note

Sources

10/27/2023

$99M

Management Buyout

2

12/6/2022

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$99M

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10

7/31/2019

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$99M

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10

7/16/2018

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$99M

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10

2/16/2018

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$99M

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10

Date

10/27/2023

12/6/2022

7/31/2019

7/16/2018

2/16/2018

Investment Stage

Companies

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Valuation

$99M

$99M

$99M

$99M

$99M

Total Funding

Note

Management Buyout

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Sources

2

10

10

10

10

Mercia Asset Management Fund History

6 Fund Histories

Mercia Asset Management has 6 funds, including Northern Venture Capital Trust (VCT) Funds.

Closing Date

Fund

Fund Type

Status

Amount

Sources

3/10/2022

Northern Venture Capital Trust (VCT) Funds

$52.82M

2

Midlands Engine Investment Fund

$99M

10

North East Fund

$99M

10

MEIF - Mercia Proof-of-Concept

10

MEIF Early Stage Fund

10

Closing Date

3/10/2022

Fund

Northern Venture Capital Trust (VCT) Funds

Midlands Engine Investment Fund

North East Fund

MEIF - Mercia Proof-of-Concept

MEIF Early Stage Fund

Fund Type

Status

Amount

$52.82M

$99M

$99M

Sources

2

10

10

10

10

Mercia Asset Management Partners & Customers

1 Partners and customers

Mercia Asset Management has 1 strategic partners and customers. Mercia Asset Management recently partnered with Banco Santander on April 4, 2016.

Date

Type

Business Partner

Country

News Snippet

Sources

4/22/2016

Partner

Spain

SMEs are key to Manchester’s future, says Sir Howard

Damian McGann , Divisional Managing Director -- North of England , at Santander said : SMEs need access to multiple sources of finance so it is great to see that this collaboration between Enterprise Ventures and Santander plugs a gap in the market and allows us to support SMEs across the Northern Powerhouse with their growth plans .

1

Date

4/22/2016

Type

Partner

Business Partner

Country

Spain

News Snippet

SMEs are key to Manchester’s future, says Sir Howard

Damian McGann , Divisional Managing Director -- North of England , at Santander said : SMEs need access to multiple sources of finance so it is great to see that this collaboration between Enterprise Ventures and Santander plugs a gap in the market and allows us to support SMEs across the Northern Powerhouse with their growth plans .

Sources

1

Mercia Asset Management Service Providers

2 Service Providers

Mercia Asset Management has 2 service provider relationships

Service Provider

Associated Rounds

Provider Type

Service Type

Seed VC, and Unattributed VC

Counsel

General Counsel

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Service Provider

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Associated Rounds

Seed VC, and Unattributed VC

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Provider Type

Counsel

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Service Type

General Counsel

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Partnership data by VentureSource

Mercia Asset Management Team

2 Team Members

Mercia Asset Management has 2 team members, including current Chief Executive Officer, Managing Director, Mark Payton.

Name

Work History

Title

Status

Mark Payton

WM Enterprise Investment Division, Oxxon Therapeutics, and Oxford University Innovation

Chief Executive Officer, Managing Director

Current

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Name

Mark Payton

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Work History

WM Enterprise Investment Division, Oxxon Therapeutics, and Oxford University Innovation

Title

Chief Executive Officer, Managing Director

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Status

Current

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