Business investments firm's Â£14m input to region
The firm which manages the Lancashire Rosebud Fund said it has Â invested Â£14.3m in North West businesses in 2018.
Mercia Technologies said this was up from £9m the previous year, highlighting its role as one of the UK’s most active investors and a key source of funding for regional SMEs.
It made investments in 24 companies in the region during the year, including Manchester-based tech firms Pimberly, ParkCloud and Shaping Cloud, the Lancashire games firm Soccer Manager and muffin plant machinery firm Baldwin Engineering Holdings, and Lancashire Waste Recycling.
The group, which manages Lancashire Rosebud Finance and part of the Northern Powerhouse Investment Fund, employs 27 staff in the North West. During the year the group increased its third party funds under management from £350m to over £400m at 31 December.
Mark Payton, chief executive said Mercia was working to address the imbalance between London and the regions. He said: “Building on a successful 2018, I expect Mercia to continue to scale its activities into 2019.”