Mercia Technologies announced its new direct investment worth £2.0m in W2 Global Data Solutions Limited (W2). This investment is part of a £3.0m funding round, alongside the Development Bank of Wales.
Therefore, Mercia has a direct equity holding of 17.4% in W2, and this investment follows on from initial funding rounds by the company’s third-party managed funds.
Julian Viggars, MERC’s CIO, said: “Having initially backed W2 through our managed funds, we are delighted to continue to support the business and its highly experienced management team as it becomes the latest Emerging Star to join our direct investment portfolio. SaaS technology continues to be one of Mercia’s key areas of focus and we see significant potential for delivering shareholder value over the medium term as W2 continues to grow.”