INNOVATIVE FUND RAISING STRATEGIES FOR MID-SIZED COMPANIES: LESSONS FROM EMERGING MARKETS AND THE UK

The objective of this research is to examine how innovative fundraising approaches can enhance the growth prospects of mid-sized companies, with a comparative focus on emerging African markets and the United Kingdom. Mid-sized firms occupy a critical position in national economies, yet they often struggle to secure external finance due to structural and institutional barriers. This study therefore investigates the contribution of five major financing options bank loans, angel investors, venture capital, private equity, and initial public offerings (IPOs)to the development of such enterprises. A systematic review of literature was undertaken, covering peer-reviewed journals, policy reports, and practitioner studies published between 2003 and 2023. Databases including Scopus, Web of Science, and ScienceDirect were consulted. Screening and selection followed the PRISMA framework to ensure academic rigor. From an initial pool of over 92 publications, 23 high-quality studies were retained and analyzed using qualitative content analysis. The review shows that mid-sized enterprises face persistent financial gaps across all stages of growth. Bank lending remains dominant but is highly collateral-intensive; angel investment offers early support but remains fragmented in emerging markets; venture capital is available mainly in technology-driven sectors; private equity favors larger and more established firms; while IPOs are largely inaccessible due to regulatory costs and volatility. The study highlights the need for integrated, stage-sensitive frameworks that blend traditional finance with innovative mechanisms tailored to mid-market realities. This paper contributes by aligning evidence from emerging markets and the UK into a practical financing roadmap for mid-sized companies. It offers a theoretical model linking funding options to firm maturity, while also providing insights for policymakers, investors, and managers on how to strengthen governance, enhance investor confidence, and improve longterm competitiveness.