Midlands Engine Investment Fund Reaches £50 Million MilestonePublished: Friday, 28th June 2019
£50million has been injected into the region’s firms with the support of the Midlands Engine Investment Fund (MEIF).
Revealed at the MEIF’s anniversary event (18 June), this latest milestone is the result of making over 150 investments in firms located across the Midlands and includes £19.02 million of private sector leverage.
Now over a year since its full launch, the £250million Fund which is operated by the Government’s British Business Bank has provided finance to a wide range of firms. The most active sector to receive investment has been manufacturing. Other key areas include agri-tech, life sciences and transport technologies.
One of the Fund’s latest deals in the West Midlands was a £250k investment in Birmingham-based Rent Chief. The firm which was founded by serial entrepreneurs, Patrick Shuker and Jon Whitmore, is to use the equity finance to launch its online property management platform to the market.
For more information visit: https://www.businessinnovationmag.co.uk/midlands-engine-investment-fund-reaches-50million-milestone/