Midven

Investment decisions are led by CEO Tony Stott, with Investment Director Giovanni Finocchio and Director/Fund Manager Surjit Kooner playing central roles. The firm operates a flat investment committee structure typical of a regional venture firm, with deal leads presenting directly from the Birmingham office. Huw Sparkes, an investment analyst who joined as a graduate, supports due diligence.

Midven relies heavily on its deep West Midlands network, built over three decades in the region. The firm runs regular investment readiness workshops for local entrepreneurs and partners with organisations like Entrepreneurs for the Future (e4f). Its mandate as fund manager for the Midlands Engine Investment Fund and the West Midlands Co-Investment Fund also creates a steady inbound pipeline from government and regional development channels.

It operates as both. Midven is a wholly owned subsidiary of Future Planet Capital but functions as the appointed fund manager for two major UK government-backed regional funds — the Midlands Engine Investment Fund (MEIF) and the West Midlands Co-Investment Fund (WMCO). This dual role means Midven’s capital is largely public-sector sourced, governed by specific mandate criteria, and concentrated entirely on the West Midlands.

Future Planet Capital acquired Midven around 2021, absorbing the firm as its regional venture arm. Midven retained its brand and Birmingham headquarters, continuing to manage the MEIF and WMCO mandates under the parent company. The acquisition placed Midven within a broader impact-investing framework, but its day-to-day operations and local West Midlands focus remained intact.

Midven executes almost exclusively direct equity and co-investment deals, writing initial checks of up to £2m through the MEIF and up to £1m through the WMCO. There is no public evidence of the firm making commitments to third-party managed funds; its activity revolves around direct company investments within its mandated geographic area.

The firm targets early-stage businesses and SMEs that are revenue-generating. Its website specifies fast-growing, West Midlands-based companies requiring up to £1m in an initial funding round — though the MEIF mandate allows for up to £2m. Typical rounds are seed to early growth, often structured as equity or SAFE instruments, as seen in the £500,000 SAFE for Rem3dy Health.

Midven’s capital is overwhelmingly public-sector in origin, deployed through the Midlands Engine Investment Fund and the West Midlands Co-Investment Fund, both UK government initiatives. The firm previously launched a GB EIS Fund to attract private tax-advantaged capital for co-investment alongside MEIF, but its core AUM remains tied to these regional mandates.