Midven invests more than £7m into Coventry, Warwickshire, and Worcestershire with more to go

Coventry

Birmingham-based Midven has invested more than £7 million into growing businesses in Coventry, Warwickshire, and Worcestershire over the past four years.

According to the West Midlands Growth Company, the West Midlands region has had an economic revival in the past five years with a GVA growth rate of 25.5 per cent.

Through investments, the Midven portfolio companies have been able to accelerate growth with new products and services. The funding has also enabled the businesses to increase headcount which has brought over 50 new jobs across Coventry, Warwickshire, and Worcestershire. As Midven’s portfolio has expanded its teams to facilitate growth, the impact of external finance continues to play a critical role in levelling up economic opportunities for SMEs.

Surjit Kooner, director at Midven, says, “Midven’s focus is to support our portfolio companies to grow, but on a higher level we’re also concerned with ensuring that the region prospers and thrives. I’m happy that through our investments, we bring new job opportunities to the region so that not only our portfolio benefits, but the wider population does too.”

Home to Warwick University and Malvern Hills Science Park, the area is a hotspot for innovation and development and of particular interest to Midven. Over the years, the company has seen entrepreneurial businesses spring from here and it isn’t expecting this to slow down.

“We are seeing some very exciting trends and businesses in the region. Midven still has headroom in the fund to make new investments into companies that are showing healthy projections with strong product offerings. With such a focus on innovation and productisation of technologies we are continuously seeking to put money into the area,”Kooner says.

Midven manages a £40 million equity portion of the Midlands Engine Investment Fund which aims to transform the finance landscape for SMEs in the Midlands. With the company’s ‘more than money’ approach the team helps to build strong and successful companies and support businesses every step of the way.