The Development Bank of Wales has significantly ramped up its equity investment activity as it continues to back the growth potential of firms.
In its last financial year to the end of March, 2023, it invested £22.9m compared to £11.6m a year earlier - a rise of 97%. Nearly half of the equity (£10.9m) went into 31 tech firms. It said as its accounts have yet to be fully audited it is current unable to provide figures on the value of any equity investments written off o return on investment from any exits.
The development bank, which is wholly-owned by the Welsh Government, made 516 individual equity and debt investments totaling £124.2m in 2022/23, which leveraged £114.5m of private sector co-investment. The average deal size grew by 14% to £240,748.
