Jody Tableporter is Director of Nations & Regions Investment Funds at the British Business Bank. Jody and her team work across the whole of the Midlands to support entrepreneurs, no matter where they are or their background, through access to finance and growth-enabling capital.  

In the ten months since our February launch, the £400m Midlands Engine Investment Fund II has already invested over £17m into 70 businesses, across Midlands areas. Our catalytic finance has also driven an additional £10m of private sector investment. 

Backed by the British Business Bank, the Midlands Engine Investment Fund II provides debt and equity funding where not readily available, through commercial smaller loans from £25k to £100k, debt finance from £100k to £2m and equity investment products up to £5m.  

Backing small business is at the core of the British Business Bank’s mission; we look to assist at every stage in a company’s journey, from start-up to scale-up, and back founders and management teams regardless of who they are or where they are in the Midlands or through our other UK regional funds across the UK.   

Start-up, emerging and growth businesses across the Midlands are all candidates for Midlands Engine Investment Fund II funding.  Whilst access to finance is the central benefit of the fund, it also comes with the added, and these days rather unique benefit of, personal relationships and a wealth of experience from our appointed fund managers:  First Enterprise – Enterprise Loans, BCRS Business Loans, Mercia Ventures, Frontier Development Capital, and Maven Capital Partners.  

Our Fund Managers are there to help you on your journey, whether your aim is to expand your workforce, develop products and services, upgrade equipment or software, or other growth activities. The fund is also sector agnostic and works across the full range of industries.  Some of the businesses that have been supported so far are in the manufacturing, logistics, food and drink, retail, medical, and healthcare industries, among others. 

Evolve Automotive Repair Centre secured £375,000 of debt finance through the Midland Engine Investment Fund II, working closely with Frontier Development Capital (FDC).  FDC visited Evolve’s automotive repair sites (three now expanding to four) to understood firsthand what has been built and the commitment and entrepreneurial spirit of the founders, Stephen Hill and Jack Thomas. This ambitious pair, both aged 23 have plans to expand to ten sites in the next three years, gain manufacturer accreditations across all sites, and build a strong workforce along the way. 

While Warehow, a rapidly expanding e-commerce fulfilment company catering to fashion and homeware retailers, raised £2.1m in a Series A funding round led by the Midlands Engine Investment Fund II through its appointed fund manager Mercia Ventures. The investment will enable Warehow to further develop its technology, create additional storage capacity in one of its existing warehouses and step up its sales and marketing activities.

Another great example would be Knit Nottingham, who secured a £60,000 small loan in summer 2024. This high street shop, run by husband and wife team Hannah and Daniel Byrne, offers a range of crafting supplies as well as workshops, classes and social events. The funding allowed Hannah and Daniel to complete the purchase of the shop from the previous owner, and also to look at plans for business expansion, so they can keep arts and crafts alive and well in Nottingham for years to come.   

This first milestone for the Midlands Engine Investment Fund II is exactly that – the first step in what will be a transformative fund for ambitious early-stage and growth businesses in the Midlands. Watch this space! 

To find out more about the Midlands Engine Investment Fund II and apply for funding through the regional fund manager partners, please visit the website.