Midven launches new early-stage fund

Birmingham-based Midven, an investor in growing companies, has launched a new fund and made its first investment.

Midven Early Advantage Fund, which has £8 million to invest in ‘helping today’s generation of entrepreneurs become tomorrow’s world beaters’, has backed medical technology company Anaxsys, contributing £125,000 to a £500,000 fundraising round.

The investment allows Staffordshire-based Anaxsys to conduct clinical trials of its first product, a disposable mask connected to an electronic monitor that analyses patients’ breath, alerting medical staff to any abnormalities that could be a sign of disease. Another planned product is a ‘low-cost’ tool for detecting lung cancer.

Anaxsys’s non-executive chairman David George says, ‘Anaxsys proprietary technology has value in a number of different applications and this investment will be crucial in getting the first product to market.’

Midven Early Advantage Fund will focus on early-stage companies in the West Midlands requiring investment of between £25,000 and £400,000.

Nick Britton

Nick Britton

Nick was the Managing Editor for growthbusiness.co.uk when it was owned by Vitesse Media, before moving on to become Head of Investment Group and Editor at What Investment and thence to Head of Intermediary...

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