Mercia snaps up £27m North East Venture Fund

Mercia Fund Managers has been awarded the £27m Venture Fund to support businesses across the region as part of the £120m North East Fund as they seek to address the current imbalance in available capital across the UK.

Mercia will be opening a new office in Newcastle, which will be its ninth office in the UK, and the fund will be available to SMEs across Durham, Northumberland and the Tyne and Wear area.

The Venture Fund will be investing in rounds up to £1m and will be targeted at businesses at any stage of their development.

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