The Midlands Engine Investment Fund is a collaboration between the British Business Bank and ten Local Enterprise Partnerships (LEPs) in the West Midlands and East Midlands.
The MEIF is supported by the European Regional Development Fund, the European Investment Bank, Department of Business, Energy and Industrial Strategy and British Business Finance Ltd.
It provides a range of affordable financial products to small and medium-sized businesses (SME) across the D2N2 region such as Small Business Loans, Debt, Equity and Proof of Concept funds to help businesses achieve their growth ambitions.
The Midlands Engine Investment Fund provides over £250m of investment to boost SME growth in the Midlands Engine Investment Fund area. The D2N2 ERDF contribution to MEIF is £11.75m.
As of the end of March 2020, the fund had invested £64.8m, with an additional £36.2m in private sector funds and has now supported over 257 businesses, with manufacturing continuing to be the most active sector.