Mercia provides £59.7m to SMEs in 2018

Mercia provided £59.7m to SMEs in 2018, with over 90% of the funding going to businesses outside of London and the South East.

The figure is up from the £48m recorded in 2017.

Mercia made investments in 137 companies during 2018, of which 125 were outside of London and the South East.

Some £15.7m was invested in 57 companies in Yorkshire and the Humber, £14.3m in 24 companies in the North West and £13.3m in 22 companies in the Midlands.

In addition, Mercia invested £2.5m in six companies in Scotland during the same period.

“Regional cities such as Birmingham, Newcastle, Leeds, Sheffield, Manchester and Edinburgh are increasingly important technology hubs, however, venture capital remains heavily focused on London,” said Mark Payton, chief executive at Mercia Technologies PLC (pictured above).

“Mercia has offices in all of these locations and as these latest figures show, it is addressing this shortfall by sourcing and backing exceptional businesses across the UK’s regions.

“Building on a successful 2018, I expect Mercia to continue to scale its activities into 2019.”

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