ERDF backs Midven's Early Advantage Fund with additional £2m

Early Advantage Fund, which has a 10-year lifespan, held its final close in December 2009 on £8m. The ERDF also made a commitment to the fund during its initial fundraising period.

According to unquote" data, the vehicle makes equity investments of up to £400,000 in start-ups and early stage businesses based in the West Midlands.

The fund has invested £6m in 41 companies to date, including co-investments alongside private sector investors.

Midven investment directors Duncan Kerr and Andrew Muir manage Early Advantage Fund from the VC's Birmingham headquarters.

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• Midven