HSBC Enterprise Fund

The Enterprise Fund was formed in July 1997 by the merger of separate HSBC sponsored funds for the East and West Midlands. The East Midlands Fund was launched in 1992 and the West Midlands Fund in 1994. The Enterprise Fund is a £6.5 million fund with funding mainly provided by HSBC, the European Investment Fund and Midlands Investments Ltd. The Enterprise Fund has invested £6.5 million in 39 Midlands based companies. Investments were made in most sectors of business activity, some to support early stage growth and development and others to finance management succession. It is now closed to new investment opportunities. The Enterprise Fund limited its first round investments in any one company to a maximum of £250,000 and is able to make follow-on investments providing that no more than 10% of the Enterprise Fund is invested in any one company. The investee company's business had to be located in the Midlands.