Future Planet Capital (FPC) has announced its acquisition of one of Britain’s most respected venture capital firms, Midven Ltd. The deal will enable Future Planet to grow its extensive global innovation network, which includes Berkeley, Cambridge, Harvard, MIT and Oxford, by combining them with Midven’s access to top-ranked UK Government funded scientific research. FPC is already a leader in this sector and was one of the first to bring sovereign wealth fund investors to British university venture.
Future Planet Capital is unique in its impact led approach, built to invest in growth companies from the world’s top universities. The firm has built a track record of catalysing growth to scale university spin-outs into nascent global players, demonstrated in its backing of 23andMe, Congenica and recently Vaccitech. Through its focus on companies emerging from the founders or science of the world’s leading universities, FPC has access to opportunities with long-term value and lasting impact.
Midven, which is supported by blue chip investors including the British Business Bank and European Investment Bank, manages the highly successful UK Innovation and Science Seed Fund (UKI2S) and the £35m MEIF West Midlands Growth Fund, part of the British Business Bank’s £250m Midlands Engine Investment Fund.
Douglas Hansen-Luke, FPC Executive Chairman, said: “Midven’s exceptional 30-year track record, its strong capital base and the UKI2S Fund’s close relationship with some of Britain’s top research establishments will offer our investors, stakeholders and our portfolio companies greater opportunities. By incorporating Midven, Future Planet Capital will become an important player in the UK’s impact and university venture industry, with more reach, more investors and more capital to invest in companies working to tackle global challenges. The UK is the world’s 3rd most successful economy for innovation output1 and the ideal location to build a global impact fund.”
Andrew Muir, Director, Midven, and Investment Director & Fund Principle, UKI2S, added: “FPC’s connections to leading universities around the world will enable us to connect and support the UK’s top scientific innovators to benchmark and nurture the best of British talent.”
Tony Stott, CEO, Midven, commented: “Midven has a highly successful track record of investing government money through both UKI2S and its Midlands Engine fund. Future Planet’s relationships with global institutional investors should greatly assist all of Midven’s ambitious portfolio companies.
Notes to Editors
About Future Planet Capital
Future Planet Capital Limited is an international venture capital and impact investor, connecting the world’s largest investors to the best minds in order to address global challenges. The firm is focused on providing growth capital to leading entrepreneurs and businesses from the world’s top universities and has deployed over $100M on behalf of institutional investors to date. Future Planet Capital’s goal is to profitably solve the world’s greatest challenges in climate change, education, health, sustainable growth & security. This deal further strengthens our ability to deliver in these vital areas.
Midven was originally established as a venture capital firm by six Midlands based entrepreneurs over 30 years ago. The company then went through a management buy-out in 2007 when the current investment team acquired the business from the original founders. Since Midven became wholly owned by its management team, it has grown quickly and solidly, more than doubling the team size and increasing funds under management by over four-fold. Operating from offices in Birmingham, London and Oxfordshire, Midven invests on both a regional and national basis through a growing portfolio of funds.
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