More awards for Midven backed companies

Business Award17 July 2012 


Two companies which have received backing from venture capital specialists Midven have scooped prestigious awards.

Coventry-based LumeJet walked off with the “Best Syndicated Deal of the Year” at the UK Business Angels Association Gala Awards Dinner, in London.

And Silver Lining Solutions founder Amanda Westwood took the award for Best Female Investment of the Year.

LumeJet, which has developed revolutionary new digital technology for the printing sector, has recently undergone a second funding round £4.5m, having launched in 2010 with help from Midven’s Early Advantage Fund and private angel investment.

The award judges identified their syndicate deal as “one of the most extensive syndicates of different angel investors across the UK, co-investing also with early stage funds and raising a significant level of funding involving 63 investors.”

Solihull-based Silver Lining Solutions was a good example of a firm bucking the trend of the falling number of female entrepreneurs seeking early stage equity investment.

The company is an online skills assessment specialist, developing software for training needs analysis, compliance testing and knowledge assessment.  They were funded through Midven’s Early Advantage fund.

Ms Westwood’s company showed “considerable promise in a challenging sector of workforce optimisation and gained the backing of a number of angel investors and VCs, having established a good blue chip customer base and achieved international sales growth.”

Midven provides investment to early stage businesses and fast growing SMEs. They focus on businesses with the potential to create a strong competitive position in a large growing market. These recent awards follow shortly after the management team of Smethwick firm Midland Industrial Glass – who secured an exit from Midven’s Advantage Growth fund last year – picked up the British Venture Capital Association (BVCA) Exit Management Team of the Year Award for the Midlands.

Midven director Roger Wood said: “Our focus for investment has always been on dynamic businesses, and these awards bear testimony to the fact that there is so much fantastic work going on in early stage and start-up businesses across the West Midlands.  We are delighted to have played a part in them having moved on so quickly in what are very competitive areas.






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