Ex-Sega CEO joins VC fund Mercia Fund Management

"My main focus is to build a portfolio of digital media, gaming and e-commerce investments"

Mike Hayes, formerly the CEO of Sega, has been appointed by Mercia Fund Management to lead its digital and e-commerce division.

"I am delighted to join MFM - with oversubscribed funds and a growing portfolio, the company is ambitious, dynamic and offers an attractive package to start-ups," he said.

"I look forward to working with the MFM team where my main focus is to build a portfolio of digital media, gaming and e-commerce EIS and Seed EIS investments."

Hayes was CEO of Sega Europe and American between February 2004 and June 2012, and has also held executive positions with Codemasters and Nintendo UK. Since leaving Sega he's been involved with Aframe, Caperfly and Serious Games International.

In his new role he'll be looking for start-ups and young businesses that need capital of £100k to £500k or up to £2 - 5 million as part of an investment syndicate.

"MFM has a solid track record in supporting businesses in a number of technology sectors, and we have a wealth of experience that is transferable to our new division," added MD Dr Mark Payton.

"All new portfolio companies will have access to finance, grant advice, accommodation and centralised support, as well as our enviable investment track record and Mike's additional experience."

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