Mercia celebrates North West growth with £9m invested in 12 months

Technology investor Mercia is celebrating a busy year of ploughing millions into North West businesses.

The Warwickshire-headquartered firm, which has offices in Manchester, Liverpool and Preston, invested close to £9m in 16 firms in the region over the last 12 months.

Among the businesses backed was Manchester-based Intechnica, creator of web traffic software used by a number of national retailers.

Mercia also invested in artificial intelligence startup MindTrace, which is developing novel software algorithms to mimic the way the human brain works.

Elsewhere, Mercia realised £34.5m from its investment in Blue Prism Group plc, a software automation company based in the Newton-le-Willows. The figure represents a 5400% increase on its initial investment, made in 2004.

Mercia Technologies PLC chief exec Mark Payton said: “During 2017 Mercia has continued to strengthen its regional presence, build its investment portfolio, its team and its network of university partners.

“The Government’s recent Patient Capital Review highlighted the importance of long-term investment to build the businesses of the future. Mercia’s Complete Capital Solution model does just that.”

He continued: “By identifying innovative regional businesses with high-growth potential, and providing them with patient investment and practical support at each stage of the cycle, we can turn them into global players whilst delivering value for our shareholders.”