Mercia’s Tebble pours capital into alcoholic tea brewer NOVELTEA
Mercia’s Thea Tebble pours capital into a maker of alcoholic teas. The North East Venture Fund, which Mercia manages, took part in NOVELTEA’s 1.4 million pound round, which also included the government’s Future Fund and the crowdfunding site Crowdcube. Last year, NOVELTEA received backing from Dagmar Wöhrl, a German politician, celebrity and businesswoman who stocks the drink across her chain of hotels.
The Newcastle, UK company will use the capital to target new overseas markets, expand its product range and create 20 new jobs. The company’s founders – both of whom are originally from Germany – came up with the idea after observing the British love of tea and alcohol. In a statement, Thea said that NOVELTEA’s “quality product and ambitious management team is a great foundation for future growth.”
Thea is an investment associate with the North East Venture Fund, which is supported by the European Regional Development Fund. She focuses on looking for deals in Durham, Northumberland and Tyne and Wear, UK. Thea joined Mercia in 2018 from BMO Global Asset Management.