Midven celebrates 25 years of growth and innovation in the West Midlands
The Birmingham-based venture capital firm made their first investment in 1993 and continues to play a leading role in the fuelling the region’s growth and innovation.
Birmingham — 20 September 2018 — Leading venture capital firm Midven is celebrating a landmark 25 years of investment in the West Midlands. Since their first investment in 1993, Midven has seen and been a part of a lot of exciting changes in the region, from developments in tech to booming construction.
“Midven has always trusted in this region’s potential to thrive and we are proud to have continuously supported entrepreneurship within the West Midlands through our ‘more than money’ approach”, comments Tony Stott, Chief Executive at Midven.
“In my 25 years at Midven, I’ve seen an array of developments and changes across the Midlands. New technologies have had a radical impact on manufacturing, the products and services people use, and the business models used by SMEs. We’ve had to react and adapt, investing in the right teams, trying to avoid financial hurdles such as the first dot-com bubble in the early noughties, and picking technologies that will have a long-term future”.
Key highlights over the past 25 years
· 25 millionaires created in 25 years through Midven’s investment
· 44 exits realised including:
o Minivator – 7x cash multiple after 3-year investment
o Scriptswitch – 36x cash multiple after 7-year investment
o Dynamic Change – 8x cash multiple after 7-year investment
o Allinea – 22x cash multiple and £18m sale
o Quethera – 11.3x cash multiple and potential £85m earn out
· Midven has invested more than £60m and raised £200m co-investment into their portfolio
Looking to the future
There has never been a better time to invest in the Midlands. Birmingham now has the greatest entrepreneurial activity outside of London and boasts an economy worth more than £230 billion.
“It is an exciting time for Greater Birmingham and the West Midlands. The region has reinvented itself as a global centre for innovative and fast-growing young companies, whilst attracting investment from city behemoths including HSBC”, comments Brian Blakemore, Chairman of Midven. “Furthermore, the pace of development across Birmingham’s skyline, alongside the wealth of large-scale infrastructure projects, including HS2, have created significant employment across the city and is building an ever-growing population of skilled professionals to support long-term, sustainable growth”.
Following their recent appointment to manage the £35 million equity portion of the Midlands Engine Investment Fund, Midven continue to partner with the region’s most ambitious entrepreneurs to develop and grow the regional economy.
Midven’s 25th anniversary also coincides with the launch of the Greater Birmingham EIS Fund, which Midven have introduced due to the exceptional opportunities that exist in the Midlands and demand from local investors. This innovative EIS fund will further back high-growth ventures in the region, while offering investors the potential for attractive returns and tax-relief benefits.