Mercia Fund Management backs Warwick Audio Technologies and nanoTherics
Speaker developer and life-science technology firm become first beneficiaries of Mercia’s EIS Fund
Mercia Fund Management has revealed speaker developer Warwick Audio Technologies and life-science technology firm nanoTherics as the first companies to receive investment from its EIS Fund.
The £2m Mercia Growth Fund 1 enables investors to claim EIS benefits including 30% income tax relief and tax-free capital gain.
As one for the first beneficiaries of the fund, Warwick Audio Technologies plans to deliver key commercial contracts of its newly designed flat and flexible loudspeaker.
Similarly, life sciences technology firm nanoTherics is looking to expand sales of its product range, which includes technology designed to aid investigations into cancer and gene-related diseases and disorders.
Dr Mark Payton, managing director of Mercia Fund Management commented: “Warwick Audio Technologies and nanoTherics are truly exciting and transformational businesses now rapidly expanding their growth on the back of substantial commercial progress.
“We are fortunate and privileged to work with such companies to help them fulfil their growth ambitions.”