First Outside Round
West Midlands EnterpriseWest Midlands Enterprise Contact: Mark Payton
The Mercia Technology Seed fund makes investments in Medical Health Care Technologies (medical devices, biopharmaceuticals, pharmaceuticals and bioscience) and related services; Advanced Materials (novel, sustainable, high performance materials); Environmental Technologies (energy and resource efficiency); ICT (including Digital Media); and Transport Technologies. Enterprises commonly will have a protected technology base and a capital requirement of £50k to £750k. The fund is primarily a lead investor but can operate in syndication.
The North West Equity and South East Growth funds are Regional Venture Capital Funds that provide risk capital exclusively to SMEs. They make lead and co-investments, initially providing up to £250,000 in the first round, up to £250,000 during subsequent investment rounds, and with further potential of up to a maximum of £3 million in exceptional circumstances. They typically make investments at start-up, early, expansion, and management buy-out/buy-in stages. Enterprises cannot have received previous venture capital funding and shall not fall into sectors restricted by the Department of Trade and Industry. North West prefers that potential businesses use of their specific application procedure.
Within the clean technology sector we presently have an investment in Circadian Solar Ltd.