Development Bank of Wales

Development Bank of Wales

The Development Bank of Wales is a public development bank and subsidiary of the Welsh Government to invest in the Welsh economy and Welsh businesses.

The Development Bank of Wales is a Wrexham, Wales based investment firm. They invest in Welsh business on the mandate of the Welsh Government to support and grow the Welsh economy. These financing solutions range from £1,000 to £5 million in loans and equity financing, either secured or unsecured.

History

In 2001, Finance Wales was established by the Welsh Government to help Welsh businesses and the economy. In 2013, the program was reviewed in which it was recommended the creation of a public development bank. In 2017, the Development Bank of Wales was created and launched in October of that year.

Investment

The Development Bank of Wales has made investments in BlackDice, Wagonex, Moneyshake, BiVictriX Therapeutics, Delio, Bombora Wave Power, Hut Six Security, Poetry Bookshop, Oil4Wales, doopoll, Signum Health and The Hours Cafe & Bookshop.

They have exited investments in Creo Medical, MedaPhor, Diurnal Group PLC, Harris Pye, Hudman Solutions, Q Chip, SIPHON Networks, thevoicefactory, Mesure, Camtronics Vale and Unite Technologies.

Funds

The Development Bank of Wales has raised three funds, including the Finance Wales SME Fund in October 2016 at £136 million, the Wales Angel Co-investment Fund in May 2018 at £8 million and the Wales Technology Seed Fund in June 2018 at £20 million.

Timeline

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Clinithink

Clinithink a Natural Language Processing AI for structuring medical chart notations

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