SEIS is a new and exciting investment vehicle, which offers us the opportunity to support businesses during their first steps in growth, while EIS allows us to invest in expanding businesses, helping them reach profitability to grow further
(PRWEB UK) 27 March 2013
Venture capital fund manager Mercia Fund Management (MFM) has announced that its first Open House event aimed at companies seeking Seed Enterprise Investment Scheme (SEIS) start-up investment or EIS (expansion capital for growing businesses) investment is taking place on 16 April 2013 at Forward House in Henley-in-Arden, Warwickshire.
Collectively with Mercia Growth Funds 1 and 2 (hybrid EIS and SEIS funds), MFM oversees arguably one of the largest SEIS discretionary funds in the UK.
MFM targets its Seed EIS investments primarily at early-stage companies requiring growth funding. SEIS qualifying companies meet the following criteria:
- active trading has ideally commenced
- less than two years old
- fewer than 25 employees
- gross assets shall be less than £200,000 and
- must not have already raised cash through EIS or VCT.
MFM targets its EIS investments primarily in profitable businesses, or those within 12-18 months of reaching profitability and typically turning over at least £1m. It also targets businesses requiring expansion or growth funding for EIS investment.
Innovative companies qualifying for SEIS or EIS investment are encouraged to pre-book informal meetings with the investment team. MFM’s trusted intermediaries, Mills & Reeve, James Cowper, Lloyds TSB and Complete Resourcing, will also be attending to provide legal, financial and recruitment advice and guidance, again on an informal basis.
Dr Mark Payton, Managing Director of Mercia Fund Management commented: “SEIS is a new and exciting investment vehicle, which offers us the opportunity to support businesses during their first steps in growth, while EIS allows us to invest in expanding businesses, helping them reach profitability to grow further. We are looking forward to meeting potential SEIS and EIS investees, and hearing about their innovative products and services plus their expansion plans at our very first Open House. We expect this event to be repeated during the year at our new offices in Henley-in-Arden."
The Open House event will take place on 16 April 2013, at Forward House, Henley-in-Arden, Warwickshire; a business centre offering cost-effective, central accommodation and centralised support services.
To register for the event, please visit: http://merciafundmanagementopenhouse.eventbrite.co.uk
Mills & Reeve’s highly regarded corporate team already has significant experience in advising clients seeking investment. In the last 12 months, Mills & Reeve has acted on over 45 VC investment deals, with aggregate investment of in excess of £48 million, and during this period has also won a significant number of new fund investors and new investee company clients.
James Cowper has worked extensively with MFM, its fund members and investee companies and was awarded Tax Team of the Year at the British Accountancy Awards 2011 for its work with EIS companies. As a member of Kreston International, James Cowper gives its client base of over 3,000 businesses and private individuals, ranging from start-up ventures to well established companies, access to one of the world’s largest accountancy and business advisory networks.
Lloyds TSB can provide a ‘day to day’ banking service for Small/Medium Enterprises (SMEs) with a turnover up to £25m. It seeks to add real value to all customers by listening to and understanding their requirements, and working with them to develop bespoke financial packages that fully meet their needs.
Complete Resourcing is the UK’s only specialist HR and recruitment consultancy working exclusively with investor backed high gross businesses. It has a successful track record of helping build many of the UK’s successful technology companies. With over 22 years’ experience in the market, Complete Resourcing provides end to end services from organisational design to mentoring and coaching plus recruitment.
NB: SEIS is Seed Enterprise Investment Scheme and EIS is Enterprise Investment Scheme.
About Mercia Fund Management
Mercia Fund Management (MFM) is a venture capital fund manager with over £17 million under active management.
MFM provides investment growth capital for businesses ranging from early commercial traction through to those seeking expansion or working capital that are trading profitably. Furthermore, MFM can also provide cost-effective incubator accommodation at Forward House in Henley-in-Arden coupled with centralised support services in keeping with its model as a hands-on, supportive investor.
MFM is an FSA authorised and regulated fund manager under FSMA (FRN: 524856).