The Midlands Engine Investment Fund (MEIF) II

The Midlands Engine Investment Fund (MEIF) second fund, worth £400m, has been made available to support business growth over the next five years.

The new funds are designed to boost the supply and diversity of early-stage finance by providing options to firms that might otherwise be unable to secure investment. The finance is “to help small and medium-sized businesses start up, scale up, or stay ahead.”

Initially £281m has been allocated to five fund managers. 

Mercia Ventures will have £163m for equity deals across the Midlands and can deploy up to £5m per deal.

Frontier Development Capital, which was acquired by Mercia in December 2022, has £44m to loan to West Midlands businesses with an individual limit of £2m, while Maven Capital Partners will manage £46m for the East and South East Midlands.

BCRS Business Loans and First Enterprise – Enterprise Loans will continue to manage the small business loans and will each have £14m to deploy in loans up to £100,000.

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