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Performance and impact

Our investments help growing SMEs create jobs, be more innovative and increase their contribution to the economy.


Annual report and financial statements

Read our Annual Report and Financial Statements for the 2016-17 financial year which provides audited financial statements for the Group as well as additional information about our objectives, how we operate and our achievements.

This year's document includes the following sections:

  • Strategic report
  • Finance at a glance
  • Chairman’s and Chief Executive statements
  • Mission and strategy
  • Business model
  • Case studies – our business model in action
  • Key performance indicators
  • Risk management
  • Responsible business
  • Details of our governance arrangements
  • Audited financial statements
Annual report 2012-2013  



You can also read previous years' reports below:

Annual report 2012-2013 Annual report 2012-2013 Annual report 2011-2012      Annual report 2011-2012 


2013-2014                       2014-15                           2015-2016

Formal requests for annual reports dating back as far as 2002 can be made through our contact us page.

Alternatively downloads are also available at the Companies House website for a small charge.

Annual reviews

The Finance Wales Group's annual reviews provide the following information:

  • Investment history
  • Annual highlights
  • Regional focus
  • Main funds under management
  • Financial summary


Annual review 2008-2009 Annual review 2010-2011







Annual review 2012-2013 Annual review 2012-2013  
2012-2013 2013-2014  

*Please note no annual review is available for the 2011-2012 period, but information can be supplied upon request.

Assessments and evaluations

The £150 million European-backed JEREMIE Fund is the largest Fund managed by Finance Wales. Launched in 2009 it was the first JEREMIE Fund to be launched in the UK and the first of its kind in Europe.

It is comprised of funding from the European Investment Bank (EIB) under the EU’sJEREMIE (Joint European Resources for Micro to Medium Enterprises) initiative, a grant from the European Regional Development Fund as well as a commitment from Finance Wales

Wales JEREMIE fund final evaluation

An independent evaluation report by Regeneris Consulting and Oldbell3 has highlighted the success of the European-backed Wales JEREMIE Fund, praising its significant contribution to supporting Welsh small and medium-sized businesses (SMEs) between 2009 and 2015.

The wide-ranging final evaluation concluded that the Fund became a critical part of the business finance landscape in Wales, improving access to finance for Welsh SMEs and providing them with significant capital support when conditions in the business finance market were particularly challenging.

Mid-Term Evaluation of Wales JEREMIE Fund    

Final Evaluation of the
Wales JEREMIE Fund

(Executive Summary)



Wales JEREMIE fund mid-term evaluation

.An independent mid-term evaluation of the Fund's performance conducted by Regeneris consultants concluded that the Fund was being implemented and managed effectively and remains on course for successful delivery.


Mid-Term Evaluation of Wales JEREMIE Fund    

Mid-Term Evaluation of the
Wales JEREMIE Fund

(Executive Summary)