Exhibition and events business Opex has raised £2 million from Octopus Ventures, which was investing from the Capital for Enterprise (CfE) fund.

Exhibition and events business Opex has raised £2 million from Octopus Ventures, which was investing from the Capital for Enterprise (CfE) fund.

The investment will fund growth in Opex’s core business, which is supplying services to the event management industry, as well as new software development.

This is the tenth investment Octopus has made from its £30 million CfE fund, which forms part of the overall £75 million earmarked by the last government to support businesses struggling to secure finance in the credit crunch.

Alistair Brew, investment director at Octopus, led the deal on behalf of the firm. He comments, ‘[Opex’s] management has demonstrated a clear grasp of what makes its business distinct from its competitors and a strategic vision of how to grow market share.’

Opex was established in 2000 and has grown organically and by acquisition. It runs events such as the Ideal Home Exhibition and the International Boat Show.

Divisions of the group include Stanco Exhibitions, Excel Invision and Expo Systems.