Bumper first half of 2023 for Mercia with Yorkshire investments up by 46 per cent

Key investments completed during the six months included Sitehop, a Sheffield company with a new encryption solution for telecoms and data networks and Invincibles Studio of Leeds, which is behind the football game Soccer Manager.

Will Clark, Managing Director of Mercia Ventures, said: “Despite the flatlining economy, we have increased both the value and volume of investments in Yorkshire and Humber during the first half of 2023. Mercia was founded to bridge funding gaps in the regions and we continue to focus the bulk of our investment in businesses outside of London.

“We believe the regions hold great opportunity if you know where to look. With three offices across Yorkshire and Humber and a team of local fund managers, we are very much embedded in the region and have a track record of identifying rising stars and supporting them to scale and grow, while achieving returns for investors.

“The combination of funding we provide, which includes the use of British Business Bank’s regional funds alongside private investment, has been transformational for regional businesses.

"It is helping to attract external funding, build thriving start-up communities with a support network of advisers and create a sustainable environment for business growth and job creation.

“Mercia remains open for business and has money to invest. Looking ahead we will continue to focus on diversity and inclusion and explore ways to engage with communities that have yet to fully connect to capital providers. We look forward to creating more success stories in the second half of 2023 and beyond.”