The Advantage Growth Fund is a £17.5m fund established in 2003 as part of the UK government Regional Venture Capital Fund Initiative to invest in West Midlands based small and medium sized enterprises.
The Fund, which was able to make initial investments of up to £250,000, is now closed to new investments. It has a current active portfolio of 20 companies across a range of sectors including software, telecoms and medical devices. Midven has assisted companies in the portfolio raise additional funding, over and above that invested by the Advantage Growth Fund, in excess of £65m to date.
The Fund has achieved particular success in helping grow businesses with strategic value. Notable successes include Scriptswitch (36 times return on investment), Dynamic Change (8 times) and Midland Industrial Glass (7 times), amongst others.
The Fund was created with funding from the Dti Small Business Service (now the Department for Business Innovation and Skills), the European Investment Fund, Barclays Bank, the Royal Bank of Scotland, HSBC, the universities of Warwick, Coventry, Aston, Birmingham and Birmingham City and Midven.
The investment team for the Advantage Growth Fund is lead by Roger Wood and Tony Stott.