Mercia Asset Management plc operates as a specialist asset management firm focused on supporting small and medium-sized enterprises (SMEs) primarily in the UK. The company provides funding through various asset classes, including venture capital, private equity, debt financing, and proprietary capital. Mercia generates revenue by managing funds, with a significant portion of its assets under management derived from third-party investments. Its operations include direct investments and fund management, with a strategic emphasis on increasing assets under management while supporting existing portfolio companies.