Birmingham-based venture capital specialist Midven has helped to put a high tech West Midlands company on the international growth trail.
I-solutions Global, which has its headquarters in Coventry, will be able to accelerate its product development and customer support infrastructure thanks to Midven's equity injection from the Advantage Growth Fund.
The Coventry firm says it has exciting growth plans for its business, based on the worldwide opportunities it has identified for its i-nexus division.
I-nexus is a provider of enterprise software. Its customer base already includes such well-known organisations as Pfizer, BP, Airbus, BT and Royal Bank of Scotland.
Chief executive Paul Docherty said: "Through our web-based software product, i-nexus brings together the corporate performance management, project portfolio management and business process management capabilities needed to effectively plan and execute organisational strategy.
"I-nexus provides the ability to map strategy and define objectives, identify strategic initiatives, manage the portfolio of projects associated with each initiative and define and track the impact of these projects in terms of improved business performance."
Rex Harrison, chief finance officer of the company, which has regional offices in Europe, North America and Asia, said: "We have exciting growth plans for our business based on the worldwide opportunities we see for the i-nexus product line.
"This investment allows us to accelerate our product development and customer support infrastructure.
"I-nexus is now operational on three continents and Midven's investment enables us to complete our roll-out."
Mr Docherty added: " Midven understands our longterm vision. Our product connects strategy, execution and performance in a single integrated software solution that is quick and easy to deploy.
"We have proved that creating benefits for all users --executives, middle managers and executing employees --within the first month is the key to long-term deployment success in large global companies.
"Midven's investment enables i-nexus to capitalise on its current product leadership." Midven investment manager Roger Wood said: "We invested because we believe in the i-nexus vision. Building from a strong European base, i-nexus has grown to achieve a significant presence in the United States.
"In addition, the company has recently secured its first clients in China.
"With planned product enhancements and an excellent management team, we believe that i-nexus is becoming the global standard for enterprise strategy execution."
The £20 million Advantage Growth Fund was launched in February 2003 by regional development agency Advantage West Midlands to invest venture capital in small and medium-sized companies in the West Midlands.