Finance Wales invests a record £37 million in Welsh businesses
in 2009 - 10
17/05/10
Finance Wales smashed its annual investment target of £30
million to invest a record £37 million in Wales-based businesses
during 2009 -10, a 42% increase on the previous year’s investment
record of £26 million.
See our latest investment figures.
The company made 246 equity and debt investments during the
year. Finance Wales’ total direct investment in Welsh businesses
now stands at more than £157 million through 2400 investments since
2001. This investment has leveraged an additional £354 million in
private-sector investment and Finance Wales’ total impact on the
Welsh economy now exceeds £500 million.
The record investment performance comes in a year when Finance
Wales launched its new £150 million fund which can provide a wide
range of investment, from micro loans to venture capital. The new
fund has increased the company’s flexibility, enabling it to make a
wider range of investments as well as larger investments of up to
£2 million per investment round.
“2009 -10 proved to be a record year for Finance Wales as we
invested £37 million in Welsh businesses,” said CEO, Sian Lloyd
Jones. “Our annual investment level has increased for the fourth
consecutive year which means we are playing an even greater role in
helping Welsh businesses achieve their growth ambitions.
“I’m pleased we were able to make a large number of new
investments in 2009 -10 and continue to invest in our existing
portfolio of businesses, which highlights the importance of
follow-on funding for growing businesses.”
Welcoming Finance Wales’ record investment performance, Ieuan
Wyn Jones, Deputy First Minister and Minister for the Economy and
Transport, said: “I’m pleased to see that Finance Wales is
investing in even more Welsh businesses which is of particular
importance in the current economic climate.
“It is imperative that businesses have access to venture capital
investment to help them grow as we move into economic recovery.
These latest figures for 2009 - 10 demonstrate that Finance Wales
is achieving this and highlight the company’s important role in
supporting Welsh businesses and enabling them to capitalise on
emerging opportunities.”
The company will publish its 2009 - 10 annual review later in
the year.
Commenting on Finance Wales’ record investment performance,
chairman, Ian Johnson said: ”Despite challenging economic times,
I’m pleased businesses have an appetite for growth capital and
Finance Wales is playing a significant role helping SMEs invest for
the future.
“Our impact on the economy of Wales continues to grow and
currently stands at over £500million; both with regard to our own
direct investment and the additional private capital we’ve been
able to leverage into growing Welsh SMEs.
For more information, please contact:
Marianna Marks
Tel: 079 5869 0659
E-mail: marianna@mandmcomms.com