The British Business Bank's Midlands Engine Investment Fund II has marked over 100 deals across the whole of the Midlands. The fund has driven over £27m of investment into new and growing businesses across the region since its launch last year. An additional £10m of private sector investment has also been unlocked to help small businesses scale and grow, bringing the total to £37m.

The latest deal in the East Midlands for the Midlands Engine Investment Fund II is a £250,000 debt investment in specialist air compressor installation business CSEM Technologies, via appointed fund manager Maven Capital Partners.

CSEM Technologies provides installation, servicing, and maintenance of air compressors for a wide range of businesses, including well-known brands such as Howdens, Pukka Pies, and Weleda UK, as well as local councils and hospitals. The company will use the funding to strengthen its workforce by hiring additional skilled engineers and upgrading its operational infrastructure, and to target new sectors for growth.

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Other investments by the Midlands Engine Investment Fund II over the last year span digital, tech, healthcare, automotive, manufacturing and lifestyle.

The fund is part of the government-backed British Business Bank's £1.6bn suite of Nations and Regions Investment Funds (NRIF) which aim to boost the strength of the UK’s SME sector and long-term economic growth. The Midlands Engine Investment Fund II offers a range of commercial finance options with smaller loans from £25k to £100k, debt finance from £100k to £2m and equity investment up to £5 million, and works with five accredited fund manager partners.

The purpose of the Midlands Engine Investment Fund II is to drive sustainable economic growth by supporting innovation and creating local opportunity for new and growing businesses across the Midlands. The fund is increasing the supply and diversity of early-stage finance for smaller businesses across the whole of the Midlands, providing funds to firms that might otherwise not receive investment and helping to break down barriers in access to finance.