- Mercia Technologies has invested an initial GBP400,000, via a convertible loan note, in Concepta Diagnostics Ltd, which develops diagnostic devices for women's health. EVG has previously invested seed and early stage finance from its third party managed funds.

This was Mercia's first direct investment sourced from the portfolio of investments managed by Enterprise Ventures Group (EVG), following its acquisition on March 9.

The acquisition of EVG, a leading provider of early stage and growth finance via third party managed funds in the North of England, has significantly expanded the Group's pipeline of direct investment prospects, where it provides follow-on investment capital from its own resources into 'emerging stars', with a goal of realising significant value for Mercia's shareholders over time.

This first direct investment is an early confirmation of EVG's strategic benefit to Mercia and the Board anticipates that further direct investment opportunities will arise from the EVG portfolio over the near term.

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