Midlands-based investor Catapult Venture Managers has revealed it invested £850,000 in the flotation of engineering company Key Technologies.

Midlands-based investor Catapult Venture Managers has revealed it invested £850,000 in the flotation of engineering company Key Technologies.

The flotation on newly established trading platform Investbx, which aims to connect investors with businesses in the West Midlands, raised £1.8 million after expenses last month.

Key Technologies, formerly known as STS International, will use the money to make acquisitions and hopes to list on AIM within three years.

Catapult MD Rob Carroll says the deal was Catapult’s 26th this year, adding, ‘The economy may not be in great shape but Catapult enjoyed its most buoyant third quarter ever, completing 11 transactions during this period.’

The firm makes investments of between £200,000 and £2 million in early-stage and mid-market deals.