- Mercia Asset Management, the proactive, regionally focused specialist asset manager with c.£940million of assets under management, has invested into existing direct investment portfolio company Locate Bio, a Nottingham-based business developing a range of orthobiologics.

This investment into Locate Bio consists of a syndicated £10 million Series A round in which Mercia has made a direct investment of £1.6 million, alongside £4.0million from Mercia's third party managed funds, which included EIS and VCT capital, together with £3.0million from BGF and £1.4 million from other syndicate partners.

This funding round has increased Mercia's fully diluted direct investment stake to 18.1%, with Mercia's combined managed funds' fully diluted stakes now totalling 24.6%. Locate Bio was initially backed in April 2018 by Mercia's EIS funds.

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