Foresight MEIF Equity Finance
As appointed Fund Manager to the Midlands Engine Investment Fund (MEIF), we are offering equity investments of up to £2 million to growing small and medium-sized enterprises (SMEs), predominantly in the East and South East Midlands.
We are responsible for helping to realise the region’s potential - achieving economic growth and job creation through enterprise. Initial capital of £35 million is available for investment over the next five years.
£35 million available
£35 million is available for investment over the next 5 years.
Funding is available for small and medium sized enterprises.
£2 million per investment
Up to £2 million equity investment is available per SME.
What is the Midlands Engine Investment Fund (MEIF)?
MEIF is funded by the European Regional Development Fund, European Investment Bank, UK government and Local Enterprise Partnerships. The initiative has been launched by the government-owned British Business Bank, in collaboration with ten LEPs in the Midlands.
MEIF will provide a total of over £250 million of equity and loans to boost small and medium business growth in the Midlands. It is a key part of the government’s vision aimed at boosting the region’s economy and supporting the growth of smaller businesses.
MEIF’s funding will support new and growing SMEs, create jobs and encourage and attract additional private sector investment.
Combining the LEPs’ knowledge of local businesses and economic conditions with the experience and resources of the British Business Bank, MEIF’s funding will support new and growing SMEs, create jobs and encourage and attract additional private sector investment.
Through the MEIF allocation, we are seeking to back high-quality management teams in differentiated businesses with ambition to grow and, ultimately, realise value for all shareholders.
The four local enterprise partnerships (LEPs) we are working across include:
What type of Companies are eligible?
Exciting growth companies
Fewer than 250 staff members and less than €50m revenue or €43m balance sheet
Less than 7 years old or entering new markets
Material presence in region
Strong management teams
With backable business plans
Potential for shareholder value growth
Sustainable employment growth
Launching new products and services
Potential to co-invest
Clear and realistic exit strategy
Which type of Companies would not be eligible?
Companies in financial difficulty
Companies who can obtain finance through mainstream commercial investors/lenders
Requests for grants
Such as tobacco/weapons/gambling