Future Planet Capital acquires Midven

Harriet Matthews
09 April 2021

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London-headquartered venture capital and impact investor Future Planet Capital (FPC) has acquired Midven, a Birmingham-based venture firm focusing primarily on West Midlands-based growth businesses.

Midven was established in 1990. Its investment team undertook an MBO in 2007, acquiring the firm from its founders.

Midven manages a number of strategies, including the UK Innovation and Science Seed Fund and the £35m MEIF West Midlands Growth Fund, which is part of the British Business Bank's £250m Midlands Engine Investment Fund. In addition to the British Business Bank, its LPs include the European Investment Bank.

FPC said in a statement that its university network will benefit from Midven's links with UK government scientific research.

Midven's portfolio includes agricultural biotechnology business Tropic Biosciences, which raised a $28.5m round in June 2020 and first received backing from Midven in 2018. Its previous investments include Cambridge-based photography technology startup Spectral Edge, which was sold to Apple in December 2019.