Mercia Asset Management advises Treasury Select Committee on regional investment
London, UK
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July 27, 2023 08:41 AM Eastern Daylight Time
Mercia Asset Management PLC (AIM:MERC) CEO Dr Mark Payton speaks to Thomas Warner from Proactive about the specialist asset manager's involvement in a recent House of Common Treasury Select Committee investigation into the performance of the UK's venture capital (VC) industry. Dr. Payton personally provided evidence to the Treasury Select Committee's investigation, which focused on "impact, diversity and inclusion" and particularly on the relatively high proportion of venture capital that flows to enterprises based in London and the south east.
Mercia's longstanding aim of addressing the disparity in capital provision between London and other UK regions made it a natural invitee to the enquiry. He goes on to give some highlights of his contribution to the investigation, which included advocating for the extension of the Enterprise Investment Scheme and Venture Capital Trusts beyond their 2025 sunset clause. He also called for the removal of the age test, which disadvantages regional businesses that take longer to develop.
Additionally, he requested the lifting of the capital cap on investments in venture businesses to foster the growth of the next generation of companies. Dr. Payton remains optimistic about the regions' potential and encourages other managers to join in driving regional growth.
Read the full report here: https://committees.parliament.uk/committee/158/treasury-committee/news/196644/venture-capital-needs-to-venture-further-says-treasury-committee/
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