Mills & Reeve helps Mercia companies with £12.2m of investments since January
Cambridge-powered international law firm Mills & Reeve has advised two subsidiaries of Mercia Technologies plc on investments worth a combined £12.2 million since January.
It acted for leading technology investors, Mercia Investments Limited (MIL) and Mercia Fund Management (MFM). MIL’s investments totalled £8.7m in Quarter 1. MFM’s series of investments racked up to around £3.5m in the same period. Parent company, Mercia Technologies was floated on AIM last year and raised £70 million for direct investments in the emerging stars in the Mercia Group portfolio.
The nationally renowned Mills & Reeve venture capital team, led by partner Zickie Lim and assisted by associate Pippa Pearce, has advised the Mercia Group on its portfolio investments, fund creation and structuring work for the last 10 years.
Of the investments undertaken by the Mercia Group in Q1 of this year, £8.7 million were direct investments in five of its emerging stars:-
• VirtTrade, which delivers the mechanics of physical card and sticker collecting and trading, using digital technology to make the experience more interactive and engaging.
• Crowd Reactive, which allows event organisers to broadcast, on large event screens, photographs, video and social content from a variety of different social media platforms.
• nDreams one of the largest global publishers in the PlayStation Home virtual world.
• Soccer Manager, an online multiplayer football management game played globally in 39 languages.
• Science Warehouse, a provider of internet based business to business e-procurement services and content management services.
Mark Payton, CEO at Mercia Technologies PLC, said: ”These first investments by MIL mark a new chapter for the Mercia Group. We have a longstanding relationship with Mills & Reeve who understand our investment approach and have a strong track record of advising on equity investments in fast growth businesses. They remain the obvious choice to support us on these transactions.”
Zickie Lim (pictured), added: “It is a pleasure to continue to advise Mercia on its portfolio investments, whether through MIL or the other funds in the Mercia Group. We are delighted that they have raised this further funding for direct investments and look forward to continuing to work with Mercia in their deployment of this vital growth capital for exciting, disruptive technology businesses in the UK.”
MFM manages £22m spread across seven different technology funds. The latest rounds of funding will assist:-
• IconsZone, a developer of content-rich apps and websites for high profile celebrities of sport and entertainment.
• Edge Case Games, which provides free to play games, focusing on the core PC gamer audience.
• Love Me Beauty, a B2C platform that allows customers to sample a variety of beauty products.
• No Yetis Allowed, which creates character-driven mobile entertainment apps for a worldwide market.
• Medherant, a spin-out from the University of Warwick in the field of novel medical patch technologies.
• Customer Clever –pioneering a biometric solution, specifically designed to give businesses the customer intelligence they need to maximise returns.
• Ashiemymy Limited – a smart security firm.
• Friendly Score – a consumer credit assessment tool that uses social media data.
• Intelligent Positioning, a big data and natural search intelligence company that helps businesses optimise their web presence by giving them detailed and actionable reports on their search ranking performance relative to their competitors.
• CYP Design, a developer of new products and services for the global drug discovery industry.
• Pharos Global to launch a revolutionary technology solution that will transform how Sharia-based Islamic financial institutions operate globally.
• MIPS Diagnostics, a spin-out from the University of Leicester in the field of Molecular Imprinted Polymers.