midven

Midven invests £35m of equity funding into businesses with high-growth potential across the West Midlands. Midven has raised a total of £55M across 3 funds, their latest being Midlands Engine Investment Fund. This fund was announced on Mar 12, 2018 and raised a total of £35M.

The £35m West Midlands Engine Investment Fund (MEIF) will primarily be invested by Midven in businesses located in these six West Midlands LEP regions: Coventry & Warwickshire, Greater Birmingham & Solihull, The Black Country, Stoke & Staffordshire, Worcestershire, The Marches.

Equity funding of up to £2m is available to businesses with potential for high growth across the West Midlands. Some funding will also be available to business within the wider Midlands Engine region, which comprises of the East and South East Midlands.

Currently, they have three open funds: 

- MEIF West Midlands Equity Fund: the £35m MEIF West Midlands Equity Fund is part of the wider Midlands Engine Investment Fund established by the British Business Bank, funding for which is drawn from several sources including UK Government, the European Investment Bank, the British Business Bank and the European Regional Development Fund and the 9 LEPs that are part of the Midlands Engine, plus the South East Midlands LEP. The West Midlands Equity Fund will provide equity funding of up to £2m to businesses with high growth potential located within the six West Midlands LEP regions.

- West Midlands Co-Investment Fund: The £25m West Midlands Co-Investment Fund aims to provide innovative businesses with equity of up to £1m, helping them to expand and grow the region’s industries of the future.We look to invest in SMEs across a variety of sectors including green technology, advanced manufacturing, life sciences and creative and digital, helping them to scale up operations.

- Greater Birmingham EIS Fund: A £5m fund enabling investors to build a portfolio of investments with the potential for attractive returns and tax relief benefits, by focusing on the UKs buoyant second city and wider region.

Applicants willing to apply for the funds can do it by following this link.

Portfolio: AccurIc, Admedo, Buckt, Eyoto.