GBP100 million has been invested in the region’s small businesses through the Midlands Engine Investment Fund (MEIF)
The milestone was reached by the Fund after making 481 investments in 350 businesses located in the West Midlands and East and South East Midlands.
An additional GBP90 million of private sector leverage has also been secured as a result of the MEIF’s investments to date. This follows the Fund regularly unlocking additional funding rounds and investing with other traditional and private investors in supporting small businesses across the Midlands.
The GBP250 million Fund was launched by the Government’s British Business Bank in 2017 with an aim of improving the finance landscape for smaller businesses in the Midlands.
The most active sector to receive investment from the MEIF has been manufacturing, with 113 investments totalling GBP21 million. Other key funding areas include businesses specialising in medical technologies, life sciences, transport and sustainable energy.
Soure: Private Equity Wire
