Mercia Fund Managers has announced that it has been awarded the £27 million Venture Fund to support businesses across the North East region as part of the £120.0million North East Fund, supported by The European Regional Development Fund.

This follows a succession of contract wins for Mercia amounting to in excess of £200 million, which includes the recent award of a £23 million Proof-of-Concept and Early Stage Equity Fund, part of the Midlands Engine Investment Fund, £108 million of the British Business Bank’s Northern Powerhouse Investment Fund, the first closing of EV Growth II with initial commitments totalling £45.1million and £11.8million in Enterprise Investment Scheme (EIS) capital.