The British Business Bank participated as a cornerstone investor.

London-based media technology investor Mercuri, formerly known as GMG Ventures, has raised £50 million (approximately US$63.47 million) in a second fund from institutional investors. The British Business Bank, through its Enterprise Capital Funds (ECF) program, has made a significant investment as a cornerstone investor.

The British Business Bank is the UK government’s economic development bank.

Mercuri aims to support AI-powered media technology startups that are revolutionizing traditional media models. The fund’s focus is on startups that enhance communication and engagement in personal and professional contexts using AI. (SILICON CANALS)

The fund is seeing to exploit the market opportunity arising from the advances in AI that impact the entire media technology ecosystem, including the creator economy, gaming, music, privacy, education, community and communication.

The fund will focus on leading seed stage investments in startups addressing the new age of enterprise and consumer digital lifestyles.

With its expanded network of limited partners, including strategic investors like The Scott Trust, Mercuri plans to build on its track record and provide valuable connections and resources for its portfolio companies.

The British Business Bank’s Enterprise Capital Fund program plays a crucial role in supporting venture capital provision in the UK.

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