Our Tech & High Growth team advised Mercia Ventures on its investment in TaiSan as part of a £4.65 million seed funding round, alongside a syndicate of leading investors. TaiSan is a UK battery technology company developing next-generation solid-state sodium-ion batteries that could transform energy storage across a range of applications, including electric bikes, scooters, vehicles, and power tools.
Mercia Ventures, through the Midlands Engine Investment Fund II, and Eos Advisory co-led the round, with additional participation from a number of institutional investors and angels.
The transaction was subsequently shortlisted for Early Stage Deal of the Year at the West Midlands Rainmaker Awards 2026, recognising the investment's significance to the region.
Insights
Seed and Series A financings involving institutional investors are often complex transactions, requiring careful alignment of commercial objectives, governance arrangements and investment terms. In TaiSan's case, two institutional investors co-led the funding round, each with its own investment requirements. The transaction therefore demonstrated the importance of effective coordination where a funding round is being co-led by multiple institutional investors. Working collaboratively with all stakeholders, we helped facilitate negotiations with other advisors and maintained momentum toward a successful completion.
The transaction also demonstrates the continued strength of the Midlands and UK investment ecosystem in supporting pioneering deep-tech businesses. Through the Midlands Engine Investment Fund II, Mercia Ventures continues to back ambitious companies that are developing innovative technologies with the potential to create significant economic and societal impact. TaiSan’s plans to expand its operations, including establishing a presence in Coventry, further reinforce the region’s growing reputation as a centre for advanced manufacturing, electrification and battery innovation.
We are proud to continue our longstanding relationship with Mercia Ventures and have advised on numerous investments made through multiple Midlands Engine Investment Funds. These investments play an important role in supporting high-growth businesses across the region and contribute significantly to the continued development of the West Midlands innovation ecosystem.
“Higgs continue to be a trusted partner for Mercia across the Midlands Engine funds. Jamie and Richard brought real clarity to a complex, co-led seed round. They were pragmatic, responsive and focused on getting the deal done, which made a genuine difference for us on TaiSan.” –
Shubham Jaipuria
Investment Manager, Mercia Ventures
Conclusion
We are proud to work with many of the region’s leading investors and high-growth businesses, helping them navigate complex investment transactions and achieve their commercial objectives. Our role in advising Mercia Ventures on its investment in TaiSan further demonstrates the depth of expertise within our Tech & High Growth team and our commitment to supporting innovative businesses shaping the future of their industries.
By acting for both investors and companies, we bring a well-rounded perspective that lets us deliver practical, commercially minded advice at every stage of the investment journey.
