Added to YB: 2026-08-19
Pitch date: 2026-08-17
MERC.L [neutral]
Mercia Asset Management PLC
Author Info
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Company Info
Mercia Asset Management PLC is a private equity and venture capital firm specializing in incubation, venture debt, loan, mezzanine, seed EIS, early stage, emerging growth, mid venture, late venture, later stage, buyout, and growth capital investments.
Market Cap
GBP 112.7M
Pitch Price
N/A
Price Target
N/A
Dividend
3.74%
EV/EBITDA
11.59
P/E
-13.35
EV/Sales
2.56
Sector
Capital Markets
Category
value
Central Tendency | On a Review of H1 2026 - Mercia Asset Management PLC
MERC.L (holding update): UK regional VC fund manager + legacy 17-co direct portfolio (£125m FMV vs £115m mkt cap). Trades ~16% discount to direct investments+cash, ~5x EBITDA even at 50% haircut, ascribing zero to growing FM biz (FUM +14%, EBITDA £8.1m +6.5%, 23.7% margin). Exit delayed to FY28-29 on weak comps; exploring whole-portfolio sale. New £38m debt for M&A. History of exits above NAV. YTD -8.9%.
Read full article (3 min)