In 2008 LM Technologies Ltd decided to look for an investment that would enable the company to build its own range of products from designing the PCB to testing product at the end of production.The company had already been designing and building hardware products for the wireless industry and could foresee the big leap in demand for M2M (Machine 2 Machine) Modules and went to the market to gain investment so that LM could be well placed in the market.
The Leading Provider of Venture Capital for Early-Stage, Technology-Based Companies Located in the West MidlandsThe Mercia Technology Seed Fund is a £12.8 million venture capital fund, focused on the West Midlands and benefiting from a mixture of public- and private-sector investors. The Fund provides venture capital for early-stage technology start-ups that are located in the West Midlands. Potential investees must demonstrate their potential for rapid growth and will possess a strong proprietary position with respect to their technology, intellectual property, and products.
The Advantage Early Growth Fund was one of the most active investors in the UK making 111 investments in 61 West Midlands based companies totalling £8.79m. Because it was a “co-investment fund” each investment had to be at least matched by private investors at the same price per share so AEGF’s capital was matched by £21.5m from 507 private investors and a further £7.6m of bank and other institutional loans. This means that AEGF brought a total of almost £40m to early stage businesses in the region.