Stationery channel gains


Birmingham venture capitalist Midven has injected an extra £200,000 ($385,000) into specialist OP wholesaling business The Stationery Channel, just over a year after providing initial funding to the start-up.

In October 2003 Midven put in money from the Advantage Growth Fund to the sum of £250,000, its original limit, for a minor stake in the Tamworth-based company.

One of The Stationery Channel’s directors Alan Hickman said that the management team, which still owns around 60 per cent of the share capital, was delighted that Midven so swiftly and efficiently participated in the second round of funding.

Tamworth (UK)