New £7.5 million fund to invest in up to 50 Welsh technology businesses of the future
A new £7.5 million Welsh Government fund announced today
by Economy Minister Edwina Hart is set to invest in up to fifty
new, fast-growth, early stage technology businesses, providing much
The new five-year Wales Technology Seed Fund
is aimed at technology start-ups, University spin outs and IP
rich companies to help them commercialise their innovative products
and technologies and bring them to market.
It will be managed on a commercial basis by
Finance Wales and provide equity investments of between £50,000 and
The Minister said: “This new Fund will address
the current dearth of early stage capital identified by the
Innovation Wales strategy. It will provide structured investment to
technology start-ups and university spin-outs that are currently
failing to secure support to commercialise their respective
“We want to increase the number and growth of
successful, IP rich, technology based businesses in Wales. We also
want to attract future leading technology businesses to Wales,
which will trade globally, strengthening the Welsh economy and
creating high-calibre new jobs.
“Finance Wales already has a strong track
record of investing in early stage technology ventures and can now
back more of them at a critical early stage. These companies will
also be able to benefit from Finance Wales’ links with leading
private and institutional co-investors as they grow.”
The Fund has the potential to help create over
100 high-calibre jobs in the next five years and investments from
the fund can also be used alongside a range of other Welsh
Government support to encourage innovation and business growth.
As these businesses grow and become more
successful, they can then benefit from further investment from
Finance Wales through the Wales JEREMIE Fund.
In the last financial year Finance Wales
invested over £8 million in six new technology businesses and a
number of its portfolio companies. Since 2009, it has invested
almost £28 million in 30 technology venture companies in Wales from
the Wales JEREMIE Fund.
The Wales Technology Seed Fund will be
operational from 1st June 2014.
To enquire about technology venture
investment from Finance Wales please contact