UK-based early-stage media tech VC firm GMG Ventures rebrands to Mercuri and raises £50M for its second fund.

Mercuri's fund, led by British Business Bank, aims to support startups leveraging AI in the media industry.

The Scott Trust and other institutional, strategic, and angel investors also participate in Mercuri's latest fund.

Mercuri's founding general partner, Alan Hudson, emphasizes the impact of AI on the media technology ecosystem.

Mercuri remains committed to seed-stage investments, focusing on content and data creation, distribution, consumption, and monetization.

The VC firm will now prioritize startups that enhance communication and engagement using AI in professional and personal contexts.

Mercuri highlights its interest in generative AI businesses, including creator tools and the growing creator economy.

In its first fund, Mercuri invested in 21 startups and plans to fund eight new products while making follow-on investments annually.