Northern VCTs from Mercia Asset Management PLC have raised a record £80 million.
Mercia is a regionally focused specialist asset manager with over £2 billion of assets under management.
The three Northern Venture Capital Trusts – Northern Venture Trust PLC, Northern 2 VCT PLC and Northern 3 VCT PLC – form part of its third-party funds under management.
The fresh £80m capital has been sourced through share offers launched in September 2025.
Following an initial allotment in November 2025, they each expect to allot the remaining new shares on or around 2nd April 2026.
Since their creation in 1995, VCTs have encouraged investment into UK small businesses with the potential for high growth.
They are one of three venture capital schemes, alongside the Enterprise Investment Scheme (EIS) and Seed Enterprise Investment Scheme (SEIS).
A VCT is essentially a corporation whose stocks are available for trading on the London Stock Exchange and typically provide financing to small, early-stage companies with high growth potential.
These are typically businesses that are not yet ready for an initial public offering (IPO) or find securing debt finance more difficult due to their limited trading history or the amount of funding they require.
Like other early-stage equity funding – such as angel investors – VCTs also represent a source of guidance and expertise to companies they invest in. However the difference is that individuals invest indirectly via the VCT, rather than directly with the company looking for investment.
“I am delighted that the Northern VCTs have achieved a record fund raise in the context of a more challenging fundraising environment,” said Mercia CEO Mark Payton.
“The successful £80m fundraise is another example of how Mercia is scaling its broad range of investment capabilities across venture, development capital and property finance.
“It also underscores the trust that Mercia has built in managing the Northern VCTs, which remain a vital source of investment for SMEs throughout the UK, whilst they navigate the current economic climate.”