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05-11-2017 - Modwenna-Rees-Mogg - 0 comments
Deal Envy - Blue Prism delivers 55x return on investment for Mercia's managed funds

Mercia Technologies manages the RisingStars Growth Fund which invested £900,000 in Blue Prism in 2004. Blue Prism is a global leader in Robotic Process Automation, listed on AIM in March 2016 at 78.0pence per share, with a market capitalisation of £49.0million. Today, the UK-based software company is valued at in excess of £600.0million.

Blue Prism is located in one of Mercia’s core investment regions in the North West of England and received initial investment from the Fund (which is managed by Enterprise Ventures Limited, a Mercia wholly owned subsidiary). The investment is led by Julian Viggars, Head of Technology Investments at Mercia, who has been personally involved with Blue Prism since the early seed rounds in 2004. As with many of Mercia’s managed funds, the Group will benefit from a modest profit share/carried interest. Mercia does not have a direct stake in Blue Prism as the Fund’s investment occurred prior to Mercia’s acquisition of Enterprise Ventures.

As part of this realisation, £49.5million has been returned to the Limited Partners. This includes £26.2million to the UK Government – 2.6x its original investment – managed through the British Business Bank, the UK government’s economic development bank.

Mercia via the RisingStars Growth Fund retains a 4.9% stake in the business. 

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