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July 5, 2023

Media-Tech Maverick Mercuri Raises £50M with British Business Bank Backing

Introducing Mercuri: A £50M Fund for Media-Tech Start-ups Revolutionizing the Industry with AI

London-based VC firm Mercuri has closed a new fund, with a focus on exceptional media-tech start-ups that are reshaping traditional media models using artificial intelligence. With plans to make up to eight investments per year, Mercuri aims to provide substantial support for follow-on funding. Prioritizing robust data governance and AI safety, the firm is set to drive innovation in the media technology ecosystem.

Supported by institutional investors, including the British Business Bank through its Enterprise Capital Funds (ECF) program, Mercuri's £50 million fund marks an exciting milestone. Their previous fund, under the name GMG Ventures, was anchored by The Scott Trust.

With the rapid progress of artificial intelligence impacting various sectors, Mercuri recognizes the immense opportunities and complex challenges facing the industry. Their dedicated team, armed with deep industry knowledge and a vast network, is committed to supporting the startups they invest in, fostering long-lasting value creation.

The British Business Bank's Enterprise Capital Fund program plays a vital role in developing and maintaining effective venture capital provision in the UK. By backing over 43 funds representing over £2 billion of finance, the program is lowering barriers to entry for emerging fund managers and targeting underserved areas of the market. Mercuri's partnership with the British Business Bank introduces a new funding option for seed stage media-tech businesses across the UK, further fueling innovation and growth.

Mercuri's Founding General Partner, Alan Hudson, expresses excitement about the launch of their first multi-LP fund, emphasizing the profound impact of AI on the media technology ecosystem. Ken Cooper, MD of Venture Solutions at British Business Bank, highlights the program's success and the commitment to support seed stage media-tech businesses, reinforcing the transformative potential of this partnership.

With Mercuri's new fund and their dedication to empowering media-tech start-ups, the industry can expect groundbreaking advancements and the emergence of game-changing solutions.

Neil Hodgson Coyle
Neil Hodgson-Coyle
Editorial chief at TechNews180
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