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Minerva Business Angels contribution to regional economy highlighted by new report

A new report commissioned by Midlands Innovation universities has highlighted the contribution made by University of Warwick-based Minerva Business Angels to the region’s investment ecosystem.

Investment Opportunities in the Midlands was compiled by Beauhurst, a platform that provides data on the UK's high-growth and innovative companies, to demonstrate the scale of the opportunity available for investors considering the Midlands region.

The report cites Minerva Business Angels as one of the region’s top equity investors by number of deals made, with 72 deals in support of Midlands companies made between 2011 and 2020.

The University of Warwick, where Minerva is based, was revealed to be the Midlands university which has generated the largest number of spinouts, having created 40 companies between 2011 and 2020 – one quarter of all the spinouts created in the Midlands.

Pointing out that although the Midlands is home to 11% of the UK’s high growth population, the region only secured 5% of the £13.5bn invested in private UK businesses last year, the report’s authors suggest the region may be undercapitalised.

Minerva works to redress the balance by increasing investment in regional innovation through promoting the opportunities available for investors, especially those willing to get hands-on with up-and-coming companies, and by seeking to expand the funding opportunities available to start-up businesses in the West Midlands.

Alex Toft, Head of Minerva, said: “For Beauhurst to recognise Minerva Business Angels, part of the University of Warwick Science Park, as one of the most prolific investors in the Midlands is a very welcome acknowledgement of our investors' contribution to the local economy.

“Minerva is one of the UK’s earliest angel networks. We have been operational since 2010 – and in fact began our investment journey under an earlier incarnation in 1994 – so the Beauhurst report is just a snapshot of the total work done.

“Minerva now operates the largest number of investment groups in the UK, with a focus on working with universities and other knowledge leaders to bring high-quality business opportunities to our investors.

“What we need now is more local investors to come forward to help us continue with our phenomenal work. Anyone who would like to find out more about becoming an angel investor is welcome to get in touch for an informal discussion.”

The Beauhurst report was commissioned by the Midlands Innovation Commercialisation of Research Accelerator (MICRA), which has provided a single gateway to the Midlands Innovation universities’ collective intellectual property and spinout portfolio.

26 May 2021


  • Midlands Innovation brings together eight research intensive universities in the Midlands to help power UK economic growth. Find out more about the partnership at
  • Minerva is part of the University of Warwick Science Park Ltd and has helped over 70 companies to receive more than £ 80 million through its network of Angel investors.


Sheila Kiggins

Media Relations Manager

University of Warwick

Tel: +44 (0) 7876 218166


Sarah Howells

Marketing and Communications Manager

Midlands Innovation

Tel: +44 (0) 7866 064728



Follow: @InnovationMids