The British Business Bank launched its new £130 million Investment Fund for Wales, unlocking additional funding to help smaller businesses to prosper and thrive.
The fund will drive sustainable economic growth by supporting new and growing businesses across the whole of Wales through investment strategies that best meet the needs of these firms. It includes a range of finance options with loans from £25,000 to £2 million and equity investments up to £5 million to help small and medium-sized businesses start up, scale up or stay ahead.
The Bank’s Investment Fund for Wales will be the first solely UK government-backed investment fund for smaller businesses in Wales, helping to increase the supply and diversity of early-stage finance by providing options to firms that might otherwise not receive investment. Funding is designed to help businesses with activities including expansion, product or service innovation, new processes, skills development, and capital equipment.
Three fund managers have been appointed to manage the fund. BCRS Business Loans will manage the smaller loans part of the fund (£25,000 to £100,000), FW Capital will be responsible for larger loans (£100,000 to £2 million) and Foresight will manage equity deals (up to £5 million).
