£40m fund launched by Development Bank of Wales Sept 2025 to support management buyouts/buy-ins maintaining Welsh ownership, securing jobs, offering structured equity/debt £500k-£5m 1-7yr terms. Forecast 1,000+ jobs supported. Co-financed Welsh Government & Clwyd Pension Fund. Portfolio: DRAC Consulting (building services, Cardiff), Dragon RS (smart meter recycling, £5m, 120 jobs).
Investment Focus
Investment Thesis
Blended equity/debt £500k-£5m, terms 1-7 years. Target: management teams seeking ownership; co-invests up to 50% deal value. Builds on predecessor fund: 26 MBOs, 700+ jobs safeguarded 2019-2025. Focus: keeping Welsh ownership for retiring/exiting owners. Avoids: non-Welsh businesses, early-stage ventures, corporate acquisitions.
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