William Eichler 14 July 2023

West Midlands Pension Fund announces first investment

West Midlands Pension Fund announces first investment  image
Left to right: Rupert Lyle (WMCIF Fund Manager at Midven), Keith Duddy (CEO of Medmin), Andy Street, Mike Yiannis (CFO of Medmin), Surjit Kooner (Director at Midven).

The West Midlands Pension Fund has invested in a private company for the first time through a £25m fund.

The Birmingham-based healthcare technology company, Medmin Group Ltd, will receive £250,000 from the West Midlands Co-Investment Fund, which was established in March with the West Midlands Combined Authority (WMCA) to support SMEs.

The funding is part of a wider £750,000 investment into Medmin with a further £500,000 coming from the Midlands Engine Investment Fund (MEIF) through the MEIF West Midlands Equity Fund. Both funds are managed by Midven, part of the Future Planet Capital Group.

Andy Street, mayor of the West Midlands and WMCA chair, said: ‘When the West Midlands Co-Investment Fund was established, I wanted to see us find and fund great local entrepreneurial teams.

‘So it’s great to see this first investment into Medmin – an innovative health-tech start up with high growth potential. This £250,000 investment has been matched with private co-investment and the Midlands Engine Investment Fund have also contributed to this investment round. This backing will enable the firm to scale its operations – at the same time as creating jobs within our region which is an important part of powering our regional recovery.’

Sign up here to receive our free daily news and jobs bulletin.

SIGN UP
For your free daily news bulletin
Highways jobs

Head of Planning and Coastal Management

East Suffolk Council
£87,358 - £99,018 per annum, plus benefits
Following a restructure which has placed the current postholder in a critically important role East Suffolk
Recuriter: East Suffolk Council

Deputyship Caseworker

Essex County Council
£23344 - £26620 per annum
Deputyship CaseworkerPermanent, Full TimeUp to £24,309 per annumLocation
Recuriter: Essex County Council

Engineer

Bristol City Council
£40,221 - £51,515
As part of a friendly and enthusiastic team, you will play an important role in designing innovative urban transport and public realm projects 100 Temple Street Redcliff Bristol BS1 6AN
Recuriter: Bristol City Council

Intelligence Manager - Quantitative and Qualitative Research

Essex County Council
Up to £69262 per annum
Intelligence Manager - Quantitative and Qualitative ResearchFixed Term, Full Timeup to £69,262 per annumLocation
Recuriter: Essex County Council

Research Strategy and Governance Manager

Essex County Council
Up to £70364 per annum
Research Strategy and Governance ManagerFixed Term, Full Timeup to £70,364 per annumLocation
Recuriter: Essex County Council
Linkedin Banner

Partner Content

Circular highways is a necessity not an aspiration – and it’s within our grasp

Shell is helping power the journey towards a circular paving industry with Shell Bitumen LT R, a new product for roads that uses plastics destined for landfill as part of the additives to make the bitumen.

Support from Effective Energy Group for Local Authorities to Deliver £430m Sustainable Warmth Funded Energy Efficiency Projects

Effective Energy Group is now offering its support to the 40 Local Authorities who have received a share of the £430m to deliver their projects on the ground by surveying properties and installing measures.

Pay.UK – the next step in Bacs’ evolution

Dougie Belmore explains how one of the main interfaces between you and Bacs is about to change.