Midven investments up 80 per cent
An increase in confidence in the Midlands has been the catalyst for an 80 per cent growth in its investment levels, said venture capital fund manager Midven.
The privately owned venture capital fund manager, based in Birmingham, reported the growth in its level of investments in small and medium-sized enterprises in the first six months of 2011.
In the first half of 2011, Midven's £18m Exceed – Midlands Advantage Fund invested in four separate businesses, compared to just one business in the first half of 2010.
Its Early Advantage Fund supported nine businesses, up by one-third on its results in the first half of 2010.
Roger Wood, a director at Midven, said: "It's been an encouraging first half. The level of enquiries has been growing in part fuelled by an increasing confidence in the region as a place in which to develop successful businesses.
"Equity investment is being viewed as an alternative to debt but we would actively encourage more companies to take advantage of the venture and expansion funds that are available."
Midven, which administers five funds with about £61m under management, invests in high-growth prospect businesses across a range of sectors including software, telecommunications, healthcare and medical technology.
