The West Midlands Co-Investment Fund (WMCO), managed by Midven, part of Future Planet Capital, has been a catalyst for innovation and economic growth in the region. Since its inception, the fund, launched by the West Midlands Combined Authority (WMCA) and the West Midlands Pension Fund, has supported high-potential businesses, creating jobs, driving sustainable business, and fostering a thriving entrepreneurial ecosystem. This impact story highlights the success of two portfolio companies—Nylah’s Naturals and ‘You. Smart. Thing.’ —showcasing how strategic co-investment can unlock growth and deliver measurable impact.
The WMCO aims to support high-growth SMEs that contribute to the regional economy. Managed by Midven, the fund provides equity investments of up to £1 million, matched by private co-investment.
Rupert Lyle, WMCO Fund Principal at Midven, part of Future Planet Capital said: “At Midven, we believe in investing in businesses that not only generate strong returns but also create a positive impact. Nylah’s Naturals and ‘You. Smart. Thing.’ exemplify this philosophy. They’re driving innovation, creating jobs, and contributing to a more sustainable future.”
Nylah’s Naturals: Fueling Revenue Growth and Empowering Communities
Company Overview
Nylah’s Naturals is a trailblazer in the natural hair care industry, specialising in products designed for textured hair and hair loss solutions. Their mission is to empower individuals with healthy, vibrant hair while addressing the lack of quality products tailored for textured hair. By combining innovation with a deep understanding of their target market, Nylah’s Naturals has carved out a unique niche in the beauty industry.
Investment Impact
In 2022, the WMCO led the £530,000 seed round into Nylah’s Naturals . This funding has been transformative, enabling the company to achieve an impressive 9x revenue growth over the past year. Key factors driving this growth include:
- Strategic Product Launches: Nylah’s Naturals introduced new products that resonated with their target audience, particularly those seeking solutions for textured hair and hair loss.
- Enhanced Brand Awareness: Increased marketing efforts across social media and other channels significantly boosted visibility and engagement.
- Expanded Distribution: The company streamlined its distribution channels, expanding both direct-to-consumer and retail partnerships.
- Key Hires: The co-investment allowed Nylah’s Naturals to recruit critical roles, including an Operations Manager, procurement officer Marketing Executive, and Graphic Designer, improving operational efficiency and brand communication.
The co-investment also unlocked additional funding, including investment from Chairman Bob Holt, former CEO at Revolution Beauty PLC, and connections with industry leaders like Debra Perelman, former CEO of Revlon. These partnerships have opened doors to new opportunities, including plans for international expansion.
Kameese Davis, Founder of Nylah’s Naturals said: “The co-investment from the West Midlands Co-Investment Fund has been a game-changer for Nylah’s Naturals, providing not just the capital but the strategic support to accelerate our growth and expand our horizons.”
‘You. Smart. Thing.’: Revolutionising Sustainable Travel
Company Overview
‘You. Smart. Thing.’ is a technology company on a mission to make travel smarter, more sustainable, and accessible for all. Their platform provides personalised, low-carbon travel plans to people attending live events, mass participation sports, and using public transit. By addressing the challenges of navigating complex transportation systems alongside venue and event logistics, ‘You. Smart. Thing.’ is helping individuals and organisations reduce their carbon footprint while improving accessibility.
Investment Impact
You.Smart.Thing. received £500,000 from the West Midlands Co-Investment Fund, alongside a syndicate of high-profile angel investors and green-energy company, Ecotricity. This investment has been instrumental in driving growth and impact:
- Client Wins: The company has secured contracts with major clients, including the London Marathon Events, the Great Run Company, and Transport for Greater Manchester (TfGM). They are also in talks with global organisations like FIFA and the Olympics.
- Revenue Growth: Annual recurring revenues from SaaS license fees have doubled since the investment.
- Scalability: ‘You. Smart. Thing.’ now processes over 1.5 million personalised travel plans per month, a 10x increase from 150,000 at the time of investment.
- Job Creation: The company has created five new positions and is actively recruiting for more, contributing to economic growth in the West Midlands.
- Sustainability Impact: The ‘You. Smart. Thing.’ platform promotes sustainable travel by optimising routes and encouraging active travel and public transportation use. Their work with organisations like the Royal Shakespeare Company and the O2 in London as well as major events like the Commonwealth Games highlights their commitment to reducing the carbon footprint of the live events sector.
Chris Thompson, CEO of ‘You. Smart. Thing.’ said: “The investment from WMCO has been a transformative catalyst to growing the business. On the revenue side of things, we’ve doubled our annual recurring revenues from software as a service license fees, which was a key objective of the investment. The other output of the investment has been job creation. We’ve taken on five new positions since the investment and we’re currently recruiting as well.”
Conclusion: A Fund Driving Regional Growth and Innovation
The success of Nylah’s Naturals and ‘You. Smart. Thing.’ underscores the transformative impact of the West Midlands Co-Investment Fund. Managed by Midven, the fund is committed to supporting high-growth businesses that align with broader social and environmental goals. By providing not just capital but also strategic support, the fund is helping to build a thriving, innovative economy in the West Midlands.
These stories are just two examples of how the fund is making a difference. From creating jobs to promoting sustainability, the West Midlands Co-Investment Fund is a powerful force for positive change in the region.
Paul Nevin, Assistant Director – Investment Strategy at West Midlands Pension Fund, said: “Partnerships created through the West Midlands Co-Investment Fund (WMCO) support our commitment to support the growth of our regional economy, aligning with our responsible investment values and vision to create sustainable futures for all. Improving access to local SMEs enables these innovative enterprises to fulfil their potential. We hope other businesses explore whether the WMCO may be able to provide the financing needed for the goals they aspire to. We also encourage other investors to provide capital alongside us and the West Midlands Combined Authority to be part of this success story.”
Join the Movement
Are you an innovative business in the West Midlands looking to scale?
Visit Midven’s Website to learn more about eligibility criteria and how to apply. Join the ranks of success stories like Nylah’s Naturals and ‘You. Smart. Thing.’ — your growth journey starts here.