Mercia is pleased to announce that its direct investment portfolio company Intechnica has completed an £8.5million funding round to accelerate its growth in both the UK and US markets. Mercia has invested a further £1.2million from its own balance sheet, alongside a £5.0million investment by the Mercia advised/managed Northern VCTs and £2.3million from existing private investors and Rupert Cook, the recently appointed non-executive chairman of Intechnica's cybersecurity business, Netacea.

Following this investment, Mercia holds a 24.4% fully diluted direct equity stake in Intechnica Group, with the Northern VCTs holding a further 10.6% fully diluted equity stake.

Watch as Group CEO, Jeremy Gidlow, explains a little more about its cybersecurity platform, and the help and support Mercia has given to the Manchester-based tech company.

Read the RNS here

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Mercia Asset Management plc published this content on 22 December 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 December 2021 07:32:07 UTC.