Mercia Fund Management (MFM), a UK-based investor of early stage companies, is reportedly holding an IPO on London’s AIM targeting £70m ($108.9m), according to the Telegraph.
The investor has established Mercia Technologies to become the parent of the MFM, and is aiming to be valued at £100m through the IPO which will take place on 18 December.
Since raising its third seed fund last December, the company has made numerous investments into university spin-outs. In July, MFM put £200,000 into Oxford spin-out Oxford Genetics, £230,000 into Aston University life sciences spin-out Aston EyeTech in September, and £490,000 into Imperial and Birmingham spin-out Impression Technologies later in the same month.
In total, MFM currently has £22m under management, and has invested £16m into 36 businesses so far.
The investor is planning to use the money from the IPO to provide funding to companies in the midlands and north of England. It is also planning to use a sizeable chunk of the new funding to seek later stage opportunities.
