Midven doubles in size to accommodate growth

BIRMINGHAM venture capital firm Midven is gearing up for a busy 2011 after doubling the size of its team to accommodate growth plans.

An increasing demand for its services has seen Midven increase its staff numbers from eight to 16, while it has also moved to larger offices.

The firm, which provides funding and support to early-stage companies, has recruited graduates, lawyers, accountants and investment managers.

Tony Stott, Midven chief executive, said the expansion was testament to the success and growth of the company.

“While the economic climate has been destructive to many companies, it has also fuelled a new wave of entrepreneurs and new businesses,” he said.

“Enquiries to Midven regarding our investment funds and services have been increasing month on month over the last year. As a result, we have been able to recruit eight new members of staff to accommodate this surge in interest.”

Duncan Kerr, who was previously chief executive of an early-stage business developing novel intellectual property, and Giovanni Finocchio, previously at Connect Midlands, have joined as investment director and investment manager respectively on Midven’s Early Advantage Fund.

Ian Fairclough, previously at npower and PricewaterhouseCoopers, and Steven Greenhall, previously at the Advantage Creative Fund, will both be working as investment managers on Midven’s recently launched Exceed Midlands Advantage Fund.

Julie Hawker, previously at Deloitte, joins as in-house accountant, while Jaswinder Bhogal is on secondment as in-house lawyer from Shakespeare Putsman. Recent graduates Sebastian Savin and John Slaughter have joined as analysts.

“Midven started with just £1.5m under management. We now have a team of 16 and more than £60m under management. Having a strong and dedicated team is key to Midven’s growth, and indeed it is these new staff that will enable Midven to continue its programme of investing and supporting the major companies of tomorrow,” said Mr Stott.