Midlands Engine Investment Fund

The Midlands Engine Investment Fund (MEIF) is a significant regional investment initiative in the United Kingdom, managed by the British Business Bank in collaboration with ten Local Enterprise Partnerships across the Midlands. Established to stimulate economic growth and job creation, MEIF provides a crucial source of finance for small and medium-sized enterprises (SMEs) operating within the region. Its mandate is to address market failures in access to finance, ensuring that promising businesses can secure the capital needed for expansion, innovation, and job creation, thereby contributing to the overall prosperity of the Midlands economy.

MEIF offers a diverse range of funding solutions tailored to different business needs and growth stages. These include small business loans, debt finance, and equity investments, allowing it to support a broad spectrum of companies from startups to more established firms. Specifically, the fund provides small business loans ranging from £25,000 to £150,000, debt finance from £100,000 to £1.5 million, and equity finance typically between £50,000 and £2 million, with potential for larger co-investments. This multi-faceted approach ensures that businesses can access appropriate funding, whether for working capital, asset purchase, or strategic growth initiatives.

Since its inception, MEIF has demonstrated substantial impact on the regional economy. The initial fund, launched with £250 million, has been instrumental in deploying significant capital. As of late 2023, the fund had directly invested over £200 million into more than 700 businesses across the Midlands, leveraging an additional £300 million in private sector co-investment. This combined capital injection has supported the creation of thousands of jobs and fostered innovation across various sectors, including manufacturing, technology, and life sciences. The success of the initial fund led to the announcement of MEIF II, a new £400 million fund, further solidifying its commitment to the region's economic development.

This strategic investment vehicle plays a vital role in bridging funding gaps for Midlands-based businesses, empowering them to scale, innovate, and contribute to the UK's broader economic landscape. Its structured approach and collaboration with local partners underscore its commitment to long-term regional prosperity.