Mercia Asset Management
Mercia Asset Management PLC (AIM: MERC) is a UK AIM-listed regionally focused private capital asset manager incorporated in September 2014 and headquartered in Birmingham, with 11 offices across the UK. Founded in 2010 by Dr Mark Payton following a management buyout of WM Enterprise, the firm manages approximately GBP 2.0 billion of assets as at March 2025, investing across venture capital, private debt, private equity and property development finance with around 90% of activity outside London and the South East. Its investment management subsidiaries are authorised and regulated by the UK Financial Conduct Authority, with Mercia Fund Management Limited holding firm reference number 524856 as an authorised AIFM. The group manages third-party funds including three Northern VCTs (combined net assets GBP 416m), EIS funds, NPIF and MEIF mandates, alongside a direct proprietary balance-sheet portfolio of approximately GBP 126 million fair value invested into high-growth regional technology businesses since its AIM listing in December 2014.
Key facts
Recent exits
Coverage notes
1 fund tracked, 27 portfolio companies (15 active · 12 realized). Verified weekly from public filings and deal announcements.
Sector breakdown
27 companiesFunds & portfolio
Every fund Mercia Asset Management has raised, with its portfolio companies. Hand-checked from public filings.
Mercia Direct InvestmentsBalance Sheet2014 · 12yr€147M15 active · 12 realized
Unrealized
15 held| Company | Sector | Geo | Entry |
|---|---|---|---|
| Software |  Sweden | 2023 | |
| MedTech |  UK | 2022 | |
| MedTech | UK | 2017 | |
| Software | UK | 2021 | |
| SaaS | UK | 2015 | |
| Gaming | UK | 2015 | |
| Biotech | UK | 2021 | |
| MedTech | UK | 2016 | |
| Cybersecurity | UK | 2022 | |
| ClimateTech | UK | 2022 | |
| SaaS | UK | 2021 | |
| Biotech | UK | 2015 | |
| Gaming | UK | 2015 | |
| SaaS | UK | 2018 | |
| Deep Tech | UK | 2014 |
Sweden· Entry 2023UK· Entry 2022UK· Entry 2017UK· Entry 2021UK· Entry 2015UK· Entry 2015UK· Entry 2021UK· Entry 2016UK· Entry 2022UK· Entry 2022UK· Entry 2021UK· Entry 2015UK· Entry 2015UK· Entry 2018UK· Entry 2014Realized
12 exits| Company | Sector | Geo | Entry | Exit | Type | Buyer | MOIC |
|---|---|---|---|---|---|---|---|
| Biotech | UK | 2015 | 2026 | Trade Sale | – | – | |
| SaaS | UK | 2015 | 2024 | Trade Sale | – | ||
| HR Tech | UK | 2019 | 2020 | Trade Sale | |||
| Energy | UK | 2017 | 2022 | Trade Sale | |||
| Industrials | UK | 2015 | 2024 | – | – | – | |
| IT Services | UK | 2017 | 2023 | Trade Sale | |||
| Gaming | UK | 2014 | 2023 | Trade Sale | |||
| Biotech | UK | 2015 | 2021 | Trade Sale | |||
| Software | UK | 2014 | 2018 | Trade Sale | – | ||
| Biotech | UK | 2016 | 2023 | Trade Sale | – | ||
| Deep Tech | UK | – | 2026 | – | – | – | |
| Biotech | UK | 2014 | 2020 | Trade Sale |
UK· Entry 2015UKSaved GPs appear in your watchlist, one click from your workspace.
About Mercia Asset Management
Mercia Asset Management is the UK's only listed regional asset manager with approximately £1.8 billion (€2.15 billion) of assets under management as of 31 March 2024 (+27% YoY, ~£1.6 billion fee-earning third-party plus ~£200 million own balance sheet), headquartered in Henley-in-Arden, Warwickshire. The firm was founded in 1982 as Mercia Fund Management with the PLC incorporated in April 2014 and AIM-listed since December 2014 (LSE AIM: MERC). Mercia operates 8 UK regional offices in Henley-in-Arden, Manchester, Leeds, Sheffield, Birmingham, Bristol, Edinburgh, Newcastle and Preston.
Investment thesis
Mercia deploys capital through approximately 20 plus funds including 3 Northern VCTs, Mercia EIS, NPIF, MEIF, Midlands Engine and regional growth funds, with a proprietary 'Complete Capital' multi-asset model spanning seed VC, growth equity, debt finance and EIS/VCT retail products. Sector focus spans software and technology, life sciences and biosciences, advanced manufacturing and engineering, digital and media, consumer and leisure and deep tech. Geographic deployment is UK regional focus outside London. The platform combines proprietary deal flow across 8 UK regional offices with a full multi-product capital stack from £25k angel tickets to £10 million plus growth.
Recent activity
Recent realised exits include HR tech (2025), fintech and open banking (2025) and B2B SaaS (2024). Recent acquisitions include continued deployment across regional VC, scale-up debt and EIS with approximately £400 million capital to deploy in FY25 plus multiple bolt-on portfolio additions across SaaS and life sciences. The platform continues active deployment across the regional UK SME franchise. Detailed buyer names and multiple data available on Pro at €29/month.
Investment team
Senior partners. Hand-checked from public filings and the firm's own site.
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