The West Midlands now boasts a multi-million pound range of public sector risk capital funds which are the equal of anywhere in the country, it has been claimed.
Nick Paul, chairman of regional development agency Advantage West Midlands, was speaking at the launch yesterday of a new £20 million Advantage Enterprise & Innovation Fund (AEIF) at Birmingham's International Convention Centre.
Established by AWM, with joint backing from the European Regional Development Fund, the AEIF is aimed at providing successful and growing businesses in the region with capital.
The AEIF, managed by Catapult Venture Managers, will have a primary focus on equity investments opportunities from £ 250,000 to £1 million.
It will be matched by private sector investment. Businesses receiving investment will therefore be raising between £500,000 and £2 million-plus in total.