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23/09/2014

Trio of awards recognise the impact of Finance Wales’ investments on Welsh economy

Finance Wales won the Funder of the Year award at this year’s influential Wales Dealmakers Awards.  Two companies which have received backing from Finance Wales, BioMonde and Vista Retail Support (Vista) also triumphed, winning the Venture Capital Deal and Deal of the Year awards. 

The judges praised Finance Wales for "developing in accordance with Wales's needs" with a new set of specialist investment funds.

BioMonde's £3.5 million funding from Oxford Capital and Finance Wales won Venture Capital Deal of the Year, with the judges describing it as "A proper venture capital deal with a purpose."  The investment is helping BioMonde set up a production plant and expand in the US.

May’s management buy-out of Vista was recognised as Deal of the Year, underpinning its continued growth.  The deal also saw Finance Wales achieve one of its most profitable investment returns to date.

Congratulating BioMonde and Vista, Finance Wales’ Chairman, Ian Johnson said: “BioMonde and Vista are Welsh success stories with committed management teams.  Both companies have grown significantly since Finance Wales first backed them and I’m pleased they’ve been recognised with these prestigious awards.

“Finance Wales’ investments play an important role in helping Welsh businesses to succeed and increase their impact on the Welsh economy.  2013 – 14 was a record year for Finance Wales, our investment levels continued to rise and the new funds we’ve launched increased our reach.

In the last eighteen months, Finance Wales has launched 3 new Welsh Government funds to help Welsh SMEs with a range of short and long-term funding needs - the £10 million Wales Property Development Fund, £20 million Wales Capital Growth Fund as well as the £7.5 million Wales Technology Seed Fund.

Group Investment Director, Mike Owen added: “Finance Wales is now helping more Welsh SMEs than ever with a broad range of short and long-term funding needs.  Added to this, we’ve also built up significant deal-doing expertise which means we can tailor our funding packages to suit SMEs’ individual requirements.

“The impact of the Wales JEREMIE Fund was recently recognised by Business in the Community at the Wales Responsible Business Awards and being named Funder of the Year clearly reinforces Finance Wales’ contribution to the future growth of the Welsh economy.”

BioMonde and Vista have both received investments from the Wales JEREMIE Fund.

Since its launch, the Wales JEREMIE Fund has invested £134 million in over 500 SMEs, helping to create and safeguard more than 9,400 jobs. Investments from the fund also have a range of other economic impacts, such as leveraging additional private sector investment totalling £150 million, encouraging innovation, collaborative R&D and the development of new products, processes and services as well as creating opportunities for local suppliers.

Cenydd Rowlands, a Senior Investment Executive at Finance Wales, was shortlisted in the Young Dealmaker of the Year category at the awards which are hosted by Wales Business Insider.