Mercia to invest another £4m in Netacea
By Josh White
Date: Friday 06 Dec 2024
(Sharecast News) - Mercia Asset Management announced a £4m follow-on investment in Netacea Group, a specialist in AI-driven defense against bot attacks, on Friday.
The AIM-traded firm said the investment, structured in two tranches, added to its £1.8bn portfolio of assets under management.
It said its balance sheet would contribute £3.1m to the funding, with £2m deployed immediately and an additional £1.1m scheduled for the next financial year.
The rest of the investment would come from Mercia's third-party managed funds.
Upon completion of both tranches, Mercia would hold a 33.6% fully-diluted direct stake in Netacea, complemented by a 26.9% stake held via its managed funds.
The funding would enable Netacea to advance its AI strategy, enhance its product portfolio, and drive growth in domestic and international markets.
The company, which specialises in protecting mobile, web, and API applications from bot attacks, counts major global retailers and telecommunications networks among its clients.
"We are pleased to continue supporting Netacea's growth trajectory," said chief executive officer Dr Mark Payton.
"We have several investments in the cyber security sector, across both our direct investments and managed funds."
Dr Payton noted that the portfolio companies were addressing critical challenges across the security spectrum, from bot detection and threat intelligence to digital forensics and supply chain risk management.
"The sustained interest we are seeing in this sector validates our long-held investment thesis."
At 1135 GMT, shares in Mercia Asset Management were up 0.67% at 30.2p.
Reporting by Josh White for Sharecast.com.
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