“Balanced” investments have led to a hike in revenue and portfolio value at specialist investor Mercia Technologies.
In the six months to 30 September 2016, the Henley-in-Arden business reported revenues of £2.9m, compared with £654,000 a year ago.
The company now has total managed funds of £228m and its portfolio’s fair value increased by 22 per cent to £46.6m.
During the period the group invested £11.5m into 58 companies through its managed funds, including transactions completed by Enterprise Ventures, which Mercia acquired in March.
In a year that saw Mercia hire tech veterans to its board, and buyout Manchester based Enterprise Ventures, investments made include sureCore, a low power electronic memory design specialist and games developer Edge Case Games.
A total of £8.6m was also raised in new EIS/SEIS funds to support early stage deals.
Mark Payton, chief executive of Mercia Technologies, said: “The output from Mercia’s strategy execution to date can be measured in three ways.
“Firstly, by the balanced and growing portfolio of direct investments, secondly by the significantly expanded pipeline of future potential direct investment prospects and finally, by the strengthened investment team.
“These tangible developments underpin the group’s objective of building a focused, sustainable and valuable investment business.
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