Over £64.8 million has been invested into 257 businesses by the Midlands Engine Investment Fund (MEIF), with new data revealing its regional impact just released.  The £250 million Fund, which was launched by the Government’s British Business Bank in 2017 to support small businesses in the Midlands, has helped to create 629 jobs, with 37 per cent paying above the UK upper quartile salary of £36,500 a year.

The new data has been released as part of an Early Assessment Report which charts the Midlands Engine Investment Fund’s progress between August 2017 and September 2019.

Blackfinch Group has launched Blackfinch Asset Management, offering adviser firms expanded capabilities and increased support. The new division will replace Blackfinch Wealth and house Blackfinch’s managed portfolio service (MPS), formerly known as the Blackfinch Wealth MPS. This is alongside further offerings to be announced shortly.  

Private equity and venture capital fundraising hit €109 billion, up 6% in 2019, and the highest total over a decade, according to new data from Invest Europe. In parallel, the total equity amount invested in European companies increased 10% year-on-year to €94 billion in 2019, the highest level on investment ever recorded.

Parabellum Investments, an international investment firm specialising in the mid-market, has teamed with operational investors The Acacia Group to acquire The Column Group.

A leading Welsh medtech company has received significant equity funding  The Development Bank of Wales and Wealth Club to develop the digital element of a new rapid test to support authorities fighting the coronavirus pandemic.

Cardiff-based Bond Digital Health is part of an international consortium that is producing a diagnostic test for patients suspected of having Covid-19. The consortium was set up by Canadian company Sona Nanotech Inc. and includes GE Healthcare Life Sciences.

A London based, food brand, has secured a £600,000 expansion loan from The Greater London Investment Fund. Adonis, an exciting, young brand in the health foods sector, aims to create a new generation of snacks that are: keto, plant based and low sugar.

Praetura Ventures, the Manchester-based investor that backs quality businesses in high-value sectors, has launched the Praetura EIS Growth Fund as it continues to see increased demand for capital and support from high-growth businesses.

As an ‘evergreen’ fund, the Praetura EIS Growth Fund is looking to raise up to £30m per annum. It will soft close twice a year and the funds raised will be deployed to support the growth ambitions of businesses in the North and across the UK. This will include early-stage businesses looking for smaller, seed-stage investments as well as capital and support for more developed businesses that are looking to scale. 

Smarterly, the digital wealth platform for the workplace, has secured £7 million investment to support its continued growth as it brings innovation to workplace savings, allowing people to save and invest directly through payroll. 

Xona Space Systems, a San Mateo-based startup creating a secure and precise Position, Navigation, and Timing (PNT) satellite service, announces that it has raised a $1M pre-seed round led by 1517, with participation from Seraphim Capital, Trucks Venture Capital, and Stellar Solutions.

British Business Investments, the commercial subsidiary of the British Business Bank, has committed £35 million to Harwood Private Capital UK LP at its first close of £70m.

The fund will focus on deploying £3m to £15m into UK founder, family and management owned businesses, with flexible capital investing across the capital structure. Investment can be used to facilitate organic growth, acquisition, shareholder restructuring, refinancing or act as a bridge to an IPO.

Epic Games, creators of Unreal Engine, has awarded a 'MegaGrant' to Polystream, a deep-tech startup and the world’s most scalable real-time 3D content and application delivery platform, to further enhance its content development platform.

The digital staffing service, Zenjob, has successfully secured a Series C funding round of $30 million. The lead investor is Forestay Capital, who are joined by Redalpine, Acton Capital, Axa Venture Partners and Atlantic Labs. The new financing will primarily be used to support expansion into further cities in Germany. Zenjob plans to roll-out its digital recruiting technology throughout the country by the end of the year and subsequently expand internationally. Currently, the Berlin-based business’ services are deployed and used in 14 German Cities.