Mercia Technologies gains four new university partnerships

Mercia Technologies, a technology investment firm, has partnered with four universities in Scotland and the north of England to access promising early-stage investments for its technology transfer team.

The company increased its network to 18 institutions after partnering with Edinburgh's Heriot-Watt University, Edinburgh Napier University and the University of St Andrews in Scotland as well as Sheffield Hallam in Yorkshire.

The new partnerships mean it now has agreements with nine universities in the midlands, four in the north of England and five in Scotland.

Mercia said the collaborations will provide good access to early stage investment opportunities and source new investments with Mericia’s technology transfer team. The company mainly invests in the digital, life sciences, electronics and software industries.

The company provides funding from an early stage via its third party funds through to maturity by balance sheet cash resources.

Since its listing on AIM in December 2014 it has invested over £20m across its portfolio. Following the company’s acquisition of Enterprise Ventures in March, it expanded its third party funds to £220m.

Chief executive Mark Payton said the new partnerships with the Scottish universities highlights the company’s bid to become “the go-to provider of finance for innovative Scottish companies”.

Payton added: “Following our recent acquisition of Enterprise Ventures, the partnership with Sheffield Hallam University will similarly continue to build our presence in the north of England alongside York, Liverpool and Liverpool John Moores universities.

“Providing approximately a third of all our investment activity, these additional partnerships support our continued ability to work with universities to identify investment opportunities."

Shares in Mercia Technologies were down 6.67% to 42p by 11:20 BST on Monday.