Mercier Fund Management, the UK venture capital fund, has launched the third version of a portfolio holding medical technology, gaming, telecoms and e-commerce investments.

Mercier Fund Management, the UK venture capital business, has launched the third version of a portfolio holding medical technology, gaming, telecoms and e-commerce investments.

Mercia Growth Fund 3 is a mixture of an Enterprise Investment Scheme and Seed EIS. These are tax-advantaged structures with benefits in terms of income and capital gains tax reliefs, among others. With "seed" EIS, they are specifically aimed at small, early-stage businesses.

The closing date for the Mercia Growth Fund 3 is 31 April next year.

Since the Mercer Growth Fund 1 was launched last year, the firm has invested more than £3 million into a series of businesses in the UK against a further £12 million into EIS and SEIS qualifying companies.

The MFM team has grown recently with a number of senior appointments: the former chief executive of gaming firm of SEGA Europe, Mike Hayes, was recently appointed to head up Mercia’s digital and e-commerce division, whilst former CEO of ApaTech Simon Cartmell joined its investment panel. Mercia also appointed Talon Golding as sales and investor relations manager.