Development Bank of Wales
| Company type | Public limited company |
|---|---|
| Industry | Financial services |
| Founded | 2000 |
| Headquarters | Cardiff, Wales, UK |
Key people | Ian Johnson – Chairman Sian Lloyd Jones - Chief Executive |
Number of employees | 100 (approximate) |
| Parent | Welsh Assembly Government (formerly Welsh Development Agency) |
| Website | www.financewales.co.uk |
The Finance Wales Group is one of the UK’s largest regional SME investment companies and provides growth capital for small and medium-sized businesses in the UK. The Group has funds of £335 million under management and comprises the fund managers Finance Wales and FW Capital, which invest in SMEs as well as xénos, a business angel network. The Finance Wales Group can make debt and equity investments of up to £2 million at all stages (early stage, development capital, as well as succession and acquisition) and also structures follow-on investments for its portfolio. The Group also syndicates/co-invests.
The Finance Wales Group manages funds of more than £335 million and has invested more than £189 million. In 2009 -10, it invested £37 million in SMEs.
Finance Wales makes commercial investments in small and medium-sized businesses throughout Wales, enabling them to realise their potential for innovation and growth. A subsidiary of the Welsh Assembly Government, Finance Wales manages funds of more than £335 million and has invested more than £183 million through 2,500 investments in Wales-based businesses. Finance Wales’ investments have leveraged an additional investment of £378 million.
Finance Wales has offices throughout Wales, with headquarters in Cardiff.
JEREMIE Fund
In April, 2009 Finance Wales launched a £150 million fund which uses funding from the European Investment Bank and EU under the JEREMIE (Joint European Resources for Micro to Medium Enterprises) initiative. The fund was the first of its kind in Europe.
FW Capital
FW Capital is a fund management company currently managing UK-based funds totaling £55 million.
North West Fund for Business Loans
The £35 million fund is part of the £184.8 million North West Fund. FW Capital can invest loans between £50,000 to £250,000 in viable SMEs in the North West of England. It manages the fund from Manchester and Liverpool.
North East Growth Plus Fund
The £20 million fund is part of the £125 million Finance for Business North East Fund. FW Capital can invest between £350,000 and £1.25 million in a single round in established, revenue-earning businesses based in the North East of England. It manages the fund from Newcastle upon Tyne.
xénos
xénos, Wales' business angel network is a subsidiary of Finance Wales plc. It provides Welsh businesses the opportunity to network with private investors. Since its formation in 1997, xénos has facilitated more than £2.8 million of investments in the Welsh economy.[1]