Venture capital, targeting high growth potential businesses, is
one of the best means of securing the economic recovery of the West
Midlands, a leading financial figure has claimed.
Brian Blakemore, Chairman of venture capital fund manager Midven
and one of the UK's leading experts in venture capital, has said
that supporting the region's best high growth potential businesses
with funding and support will enable the West Midlands to counter
the depressed trading following the recession.
Writing in Review, the firm's new publication, Mr Blakemore said
that Midven had been appointed to manage two additional West
Midlands focused funds bringing to five the total number under
active management enabling the company to continue investing to
support some of the UK's most innovative companies.
"We have invested in 14 new companies in the last twelve months
and continue to invest in our portfolio and support them in raising
additional funding from other investors. The total raised from
third party investors, both institutions and business angels, by
Midven's portfolio now stands in excess of £150m," he
said.
"Our team has also doubled in size, with the appointments of
graduates, new investment executives for both of the new funds and,
for the first time, an in-house lawyer and accountant."
Tony Stott, chief executive of Birmingham-based Midven which
provides funding and support to early-stage companies and growing
small and medium sized enterprises, said that it was the firm's
strong investment track record over the last 10 years which enabled
it to successfully manage two new funds.
"As a team we are immensely proud of the work which has been
delivered, and winning two new bids last year was a real
achievement for everyone involved," he said.
Mr Stott said Midven continued to be focused on investment in
the West Midlands.
"It is excellent that the funds we have to invest are targeted
at the West Midlands region - helping to improve the local economy
and ensuring that small businesses with big ideas have access to
the funds that will help them expand and move forward more
quickly."
Review includes an analysis of each of Midven's funds as well as
investment case studies.
For more information about Midven, please visit their website
here: www.midven.co.uk