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Est. 2000, formalised as Development Bank 2017. Welsh Government-owned. £1.4-£2bn AUM (10 funds). Portfolio: 225 cos incl. Spotnails, Amotio, Reacta Healthcare, Screentec. Team: 24 (3 partners). Value-add: co-investor network, NED access, strategic support, off-market tech deal flow, economic intelligence.
Check Size
£1K - £10M
Investment Focus
Investment Thesis
Welsh businesses only. All stages (seed to growth, succession/M&A). Debt, mezzanine & equity to £10m. Focus: B2B, tech, healthcare, SaaS, life sciences, property dev. Syndicates/co-invests. Emphasizes impact (job creation, decarbonisation, responsible business). Market gap filler where private capital retreats. Geography: Wales-based or relocating. Avoids: non-Welsh businesses.
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