The Midlands Engine Investment Fund II has provided a major boost to the East Midlands’ business community, helping firms across manufacturing, medical technology and construction accelerate growth since its launch in February 2024.
Administered by the British Business Bank, the fund has deployed over £50 million in direct investment and attracted an additional £30 million in private sector backing. The result is more than 180 smaller businesses gaining access to vital finance across the Midlands, with a strong showing from East Midlands innovators.
Among the region’s recipients, University of Nottingham spin-out Forge Genetics secured £2 million to advance its gene editing research. Sleaford Building Services received £750,000 to fund expansion and increase capacity, while medical packaging specialist Shawpak in Derbyshire obtained £500,000 to upgrade its facilities and meet growing demand.
The investment has reinforced the East Midlands’ reputation for research-led innovation and agile manufacturing. Many of the businesses supported are developing technologies and processes with national and global potential.
Keira Shepperson, Senior Investment Director at the British Business Bank, said, “The East Midlands has a strong track record in innovation, as shown by the firms the Fund has been able to invest in. From cutting edge medical technologies to evolving manufacturing and construction firms, the region is pushing through and bringing new ways of working to life. The Midlands Engine Investment Fund II is here to back that sense of ambition and entrepreneurial spirit. We look forward to continuing to support these firms and more as they gear up for 2026.”
Part of the Bank’s £1.6 billion Nations and Regions Investment Funds, the Midlands Engine Investment Fund II provides loans and equity investment ranging from £25,000 to £5 million through accredited regional fund managers. The initiative is designed to diversify finance options and strengthen the East Midlands’ role in the UK’s innovation economy.
