Shakespeare Putsman advises on Midven MBO

One of the most active venture capitalist teams in the Midlands has been bought out by its own management team acting with advice from Shakespeare Putsman.

Birmingham-based Midven, which has invested in nearly 100 Midland firms in its 15-year history, was bought from its retiring shareholders by a team made up of managing director Tony Stott, directors Roger Wood and Andy Muir and investment managers Surjit Kooner and Nicholas Moate.

The buyout will help more businesses in the region benefit from venture capital investment and will help ensure continuity in the company's approach to investing in early stage businesses.

Midven manages the 20 million pound Advantage Growth Fund, set up in 2003 to invest capital in small and medium-sized companies in the West Midlands. It also deals with the HSBC UK Enterprise Fund, and the Rainbow Seed Fund for early stage high-tech research projects.

Gary Davie of Shakespeare Putsman said: "As growing owner managed businesses both Midven and their portfolio companies are precisely the kind of company we are focused on providing our services to."