Future Planet Capital Buys VC Firm Midven
Posted on 04/08/2021
Future Planet Capital Holdings Limited (FPC) purchased Midven Ltd., a U.K. venture capital firm. The deal will enable Future Planet to grow its extensive global innovation network, which includes Berkeley, Cambridge, Harvard, MIT, and Oxford, by combining them with Midven’s access to U.K. Government funded scientific research.
Midven, which is supported by investors including the British Business Bank and European Investment Bank, manages the UK Innovation and Science Seed Fund (UKI2S) and the £35 million MEIF West Midlands Growth Fund, part of the British Business Bank’s £250 million Midlands Engine Investment Fund. Midven was originally established as a venture capital firm by six Midlands-based entrepreneurs over 30 years ago. The company then went through a management buy-out in 2007 when the current investment team acquired the business from the original founders.
Future Planet Capital acquires venture capital firm Midven
Future Planet Capital acquires venture capital firm Midven
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Future Planet Capital has acquired U.K. venture capital firm Midven in a move that will enhance FPC s access to U.K. government-funded scientific research.
Spokesmen for both firms said terms of the deal were not disclosed.
Venture capital and impact investor FPC will grow its global innovation network, which includes the University of California, Berkeley, the University of Cambridge and Harvard University, through the deal. The firm invests in growth companies from the world s top universities, working with university spinoffs.
Midven, which has £110 million ($152 million) in assets under management, was acquired from management, the FPC spokeswoman said. The whole team will join from Midven, which will not be rebranded.