The HSBC Enterprise Fund was established in July 1997 by the merger of separate HSBC sponsored funds for the East and West Midlands to create a £6.4m fund.
The Fund, which was able to make initial investments of up to £250,000, is now closed. The Fund supported 39 businesses across a wide range of sectors and stages, including start-ups and management buy-outs.
The Fund, which has achieved particular success in software and manufacturing, has delivered a return on investment of 17% since the current Midven management team has been involved in its operation. Generating these return levels over such a long period demonstrates that our approach of working closely with companies delivers long-term growth and value. Note: average returns from funds categorised as ‘venture’ in the period 1996 to 2010 were -0.3% (source: BVCA).
The Fund was created with funding from HSBC, The European Investment Fund, now defunct Training Enterprise Councils and private individuals.