Mercia Fund Management, a venture capital fund manager, invested GBP150,000 in Oxford Genetics. The investment will be used to fund the website of this new biotechnology company and development of new products.
Oxford Genetics benefitted from Seed Enterprise Investment Scheme (SEIS) funding. SEIS was given by the Mercia Growth Fund suite of funds, which comprised about GBP4 million.
Managing Director of Mercia Fund Management (MFM), Dr. Mark Payton, said, "Our team is actively identifying start-ups with early commercial traction and high growth potential. As part of the MFM SEIS investment portfolio, Oxford Genetics receives an injection of capital and support."
Payton also stated that Oxford Genetics stood out and was eventually chosen to receive funding because the SnapFast system and the online business model met an untapped need in the market. "Coupled with a strong product roadmap and an exceptional founder, we predict a promising future for this start-up."
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