Birmingham’s stock exchange now only has two companies listed on it after investment firm Early Equity announced it was pulling out of Investbx.

The firm, whose investments have included an events company run by celebrity socialite Tara Palmer-Tomkinson, wants to cut costs and focus on its PLUS listing.

The move comes just weeks after Investbx, which was set up with £3 million worth of funding by the scrapped regional development agency Advantage West Midlands, was sold for £1.

As part of Advantage West Midlands’ closing down sale, the trading platform was sold to a company run by its former chief executive Sue Summers, who now works for Birmingham City Council.

In a statement on its delisting, the firm said: "Early Equity announces that it has withdrawn from Investbx, the West Midlands-based trading platform, with effect from 17th June 2011.

"This withdrawal will allow the company to concentrate on its PLUS listing and reduce the company’s cost base."

Investbx was set up in 2007 to much fanfare as an innovative way to help West Midland firms access investment - but it has been regarded as a flop in some quarters as just three firms have "floated" since its launch.