Midven, part of the Future Planet Capital Group, has strengthened its team by appointing Rupert Lyle as fund principal of the newly launched £25 million West Midlands Co-Investment Fund (WMCIF).
Lyle brings over 30 years of investment experience to the Midlands-based venture capital firm. His role will be to position the WMCIF at the centre of the SME ecosystem.
Since 2014 he has been on the advisory committee of the London Co-Investment Fund (LCIF). This fund, set up by the Mayor of London in 2014, invested in over 150 companies alongside £200m of private co-investment and helped to create more than 3,000 jobs.
“I’ve known Rupert for years and he is a strong force within the region,” said Midven director Surjit Kooner (pictured, right, with Lyle, centre, and West Midlands Mayor Andy Street). “With his background in venture capital and experience from non-executive director and chairman roles, Rupert brings a wealth of contacts and knowledge that will amplify our team’s capabilities.
“I’m confident he will enable us to have an even bigger impact on the Midlands.”
With director roles at 3i Group and Barclays Ventures in Birmingham, Lyle has a strong track record in investing in and managing diverse portfolios of businesses in the Midlands.
Midven was appointed fund manager for the WMCIF in March 2023. The fund will launch in May 2023 and will provide innovative, high-growth businesses based in the West Midlands with equity of up to £1 million, when matched by private co-investment.
Lyle said: “The LCIF has played a huge role in developing the support and funding landscape for high-growth businesses in London.
“The challenge and opportunity are to replicate this in the West Midlands. We have so many bright, innovative, and entrepreneurial people here, but the support available is too siloed and there is a gaping hole when it comes to funding.
“To help businesses in the region the WMCIF needs to not only tap into the sources of capital already in the region, but also encourage investors from outside the region to invest in our corporate stars of tomorrow.”